News

EQ U.S. launched a new cloud-hosted SaaS model of its existing EQ Riskfactor product for the U.S. market. The platform uses automation to identify potential frauds and highlight unusual activity using advanced analytics so that lenders can investigate and reduce...

Pier 1 Imports is seeking bankruptcy court approval for a wind-down of its retail operations. The company’s DIP lenders, including Bank of America and Pathlight Capital, agreed to allow Pier 1 to overdraw the DIP facility by approximately $40 million...

Kroll Bond Rating Agency released its U.S. Bank Ratings Compendium, which provides the latest view of the U.S banking sector during the COVID-19 pandemic and analyzes Q1/20 results of U.S. banks with KBRA long-term ratings.

A “fourth” exit strategy of a structured dismissal in Chapter 11 continues to grow as a popular option for companies after they conduct a §363 asset sale, according to an article in the May issue of ABI Journal.

J D Factors provided $775,000 in recent factoring facilities, including a $300,000 factoring facility to a transportation company in Quebec.

Centric Brands entered into a restructuring support agreement, led by certain funds managed by Blackstone, Ares Management, and HPS Investment Partners, to recapitalize the company and provide $435 million in debtor-in-possession financing.

JCPenney entered into a restructuring support agreement with lenders holding approximately 70% of its first lien debt to reduce the company’s outstanding indebtedness and strengthen its financial position.

The RSM U.S. Middle Market Business Index, presented by RSM and the U.S. Chamber of Commerce, decreased by more than 21 points to 88.4 in Q2/20, capturing the severe shocks to the economy resulting from the COVID-19 pandemic.

The economic downturn in the U.S. will continue for the rest of 2020, according to the spring 2020 semiannual economic forecast from the Institute for Supply Management.

Utica Equipment Finance completed the funding of a $5.4 million sale and lease back of cranes located throughout North America to a provider of crane services.