U.S. OIL: NO SANTA CLAUS
Heavily indebted US shale companies are facing financial pressure as a result of the fall in the price of oil but may find their lenders are inclined to "go easy" on them, according to Fitch, the rating agency.
The 40 per cent fall in crude prices since June has raised fears that liquidity could dry up for companies with the greatest debt burdens.
However, Fitch argues that, as in the previous oil price crash of 2008-09, banks are likely to show forbearance rather than pushing many companies towards restructuring or bankruptcy.
"We still think…
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