Next Great Credit Crisis Delayed, But Still Looming

US cos have $1.2 trillion of below investment grade debt, much from LBOs, that needs to be refinanced from 2012 through 2017 (most from 2014-17), according to a July 2011 MB Global Partners report. Cos refinanced $398 billion of loans, extending repayment from 2011 to 2014,  but banks without Fed stimulus may not be so forgiving in the future.  
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    Few people realize that the top private equity firms, such as Blackstone Group, Carlyle Group, and Kohlberg Kravis Roberts, have become the nation’s largest employers through the businesses they own.
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