Airline credits were generally up this week as oil continued to drop, despite being downgraded by the ratings agencies last week and Claire’s Stores’ loans were active this week after it was downgraded by Moody’s Investors Service.
UBS has added four distressed staffers to beef up its presence in the area: Tom Howard joined as a distressed analyst from hedge fund Par IV; Paul Deen as a distressed salesman from Bear Stearns, Dave Ricciardi as a high-yield trader, formerly at KBC and Mike Nitka joined as a distressed sourcer.
John Abate, head of distressed and loan trading at JPMorgan, is leaving to join hedge fund Silver Point Capital.
The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers.