Eighth Biggest Bankruptcy of All Time – Texas Energy Futures

Tuesday’s bankruptcy filing was expected, after months of public discussion about the prospect that auditors would raise the “going-concern” red flag, a warning that they doubt a company can continue to operate. Fitch Ratings, which tracks defaults in the high-yield bond sector, said Energy Future’s bankruptcy “will cause the U.S. high yield default rate to rise to 2.8%, a doubling of the current rate of 1.4%.”

http://online.wsj.com/article/BT-CO-20140429-711100.html

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About highboldtage

60 something ya. Libertarian Socialist, community activist, writer and troubador.
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