Amid higher inflation and rising interest rates, companies that binged on debt when it was cheap have a lot of work to do to slim down, according to Bill Derrough, a restructuring expert and global co-head of capital structure advisory at Moelis & Co.
“In some cases it may be a minor surgery -- a little nip, tuck here and there -- and in others, limb amputations,” he said in an episode of Bloomberg Intelligence’s FICC Focus State of Distressed podcast.
