Aggressive Aurelius’ Clients Don’t Complain

Litigation is a tough way to

Angelo Gordon Steel Turnaround

Chidem Kurdas

When Angelo, Gordon & Co. lent to United States Steel Corp. in the Spring of 2009, the steel maker was in serious trouble. The steel business slumped in tandem with construction. US Steel’s stock went into a tailspin after hitting a high of $187 in late 2008. It has not recovered; it is fluctuating around $60 now.  Yet Angelo, Gordon did well with the US Steel notes.

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Blackstone and Barclays on Credit Cycle

What does the boom in junk bond issuance mean? Is it a sign of credit market strength? Or is it the next bubble?

A report from Blackstone Group drew a somewhat somber picture, suggesting that high-yield financing and re-financing may defer rather than prevent distress at weaker and smaller companies.