Perelman Faces Setback After Deluxe Cut to CCC: Distressed Debt
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Billionaire Ron Perelman, whose empire includes cosmetics company Revlon Inc., has seen his fortune shrink by almost $1 billion this year. One of his Hollywood ventures may be about to add to the pain.
The $605 million of loans to Deluxe Entertainment Services Group Inc., which Perelman controls through his MacAndrews & Forbes Holdings Inc., were quoted at 88 cents on the dollar Aug. 26, according to Markit. That compared with an average of about