Junk Bond Buyers Are Increasingly Refusing to Be ‘J. Crewed’

Credit markets coined the phrase to “pull a J. Crew” as shorthand for a borrower’s aggressive asset heist. Now junk bondholders are increasingly fighting back against such moves.

According to a new Moody’s Ratings report, high-yield bond investors are demanding more protections against debt maneuvers that strip them of their best assets to secure new borrowings.