CREDIT DAYBOOK AMERICAS: Risk Eases; Citrix Bankers Take Losses

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Sept. 21, 2022, 11:30 AM

A key measure of credit risk opened slightly tighter ahead of another expected rate hike that’s likely to send sky-high borrowing costs even higher. Wall Street banks are poised to realize roughly $600 million in losses on the Citrix Systems deal. Meanwhile, CreditSights sees the secured high-yield bond for Brightspeed as “highly flawed” in many basic facets of telecom credit analysis.

  • The spread on the Markit CDX North American Investment Grade Index, which declines as credit risk drops, tightened 0.09 basis points to 98.4 as of 7:21 a.m. New York time
  • While underwriters for the Citrix deal ultimately found …



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