How Junior Creditors Can Protect Themselves In Downturn

Law360, New York (July 11, 2014, 10:25 AM EDT) -- Beginning in 2008, we experienced a worldwide financial crisis that was more severe than any economic downturn since the Great Depression. While financial markets in the United States began recovering in early 2009, economic growth and employment activity have remained anemic. The Federal Reserve’s quantitative easing has provided enormous liquidity, which has boosted asset prices, lowered bond yields and made financing available for all but the smallest or most hopeless companies.

Deals are getting done at higher and higher EBITDA multiples. Public companies seem to be...
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