Top US financiers have warned of an erosion in lending standards after credit markets were shaken by the collapse of First Brands Group and Tricolor Holdings.
Apollo Global Management chief executive Marc Rowan said the unravelling of the two businesses followed years in which lenders had sought out riskier borrowers.
“It does not surprise me that we are seeing late-cycle accidents,” Rowan said on Tuesday. “I think it’s a desire to win in a competitive market that sometimes leads to shortcuts.”
您已阅读16%（497字），剩余84%（2551字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。