This Week's Biggest Movers (for week ending June 14, 2013)

Company Name	Loan Rating Moody's/S&P	Coupon	Maturity	Average bid (pct.psts.)	Weekly change (pct.psts.)

American Rock Salt Co	B3/B	L+425	04/25/17	99.90	-0.55
Asurion Corp.	NR/B+	L+325	05/24/19	99.80	-0.55
Booz Allen Hamilton Inc	Ba3/BB	L+350	07/25/19	99.30	-1.58
Carestream Health	WR/NR	L+350	02/22/17	99.50	-0.55
Cedar Fair LP	Ba1/BB+	L+250	03/06/20	100.15	-0.44

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May 31, 2013

LSTA Submits Comment Letter on FASB's Proposed Accounting Standards Update: Financial Instruments - Credit Losses

On May 31, 2013, the LSTA submitted a comment letter on the FASB’s Proposed Accounting Standards Update: Financial Instruments—Credit Losses (Subtopic 825-15). The LSTA commended the FASB for attempting to improve the recognition and measurement of impairment for financial instruments, noting several concerns including (1) the lack of convergence with the IASB’s model for impairment of financial assets and (2) recognizing all expected credit losses. more »
May 24, 2013

May 2013 - Court Sets Supplemental Bar Date for Certain Lender Claims in GW Bankruptcy Cases

On October 20, 2008 (the “Petition Date”), GW Limited 51, Inc., f/k/a GWLS Holdings, Inc., and certain affiliated entities (the “Debtors”) each filed a voluntary petition for relief with the United States Bankruptcy Court for the District of Delaware (the “Court”) pursuant to chapter 11 of the Bankruptcy Code. more »
May 16, 2013

May 2013 - The LSTA Recommends Treating May 27 as Loan Market Holiday When Calculating Delayed Compensation

In observance of the U.S. Memorial Day holiday, the Loan Syndications and Trading Association (LSTA) recommends treating Monday, May 27, 2013, as a loan market holiday for purposes of calculating delayed compensation under the LSTA standard forms of trade confirmation. more »
May 15, 2013

LSTA Submits Comment Letter on FASB’s Proposed Accounting Standards Update

On May 15, 2013, the LSTA submitted a comment letter on the FASB’s Proposed Accounting Standards Update: Financial Instruments—Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities. The LSTA commended the FASB for attempting to simplify the accounting for financial assets and financial liabilities by proposing a more principles-based approach; we also applauded the FASB and the International Accounting Standards Board (the “IASB”) for their efforts to achieve substantial convergence for recognition and measurement of financial assets and financial liabilities. more »
April 23, 2013

April 2013 - LSTA Publishes 1Q13 Secondary Trading Results

The LSTA presented the results of their 1Q13 Secondary Trading & Settlement Study. more »
April 18, 2013

April 2013 - LSTA Proposes FATCA Solutions for CLOs

The Foreign Account Tax Compliance Act (“FATCA”) requires foreign financial institutions (“FFIs”), including most CLOs, to report to the IRS information about their U.S. accounts. The penalty for noncompliance is a 30% withholding on payments to a noncompliant FFI, including loan interest payments, principal repayments and sale proceeds of loans. more »