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No. of Recommendations: 2
It looks like Talen Energy and its PE firm have a covenant issue on their hands which is not surprising but were able to refinance and improve liquidity...
https://talenenergy.investorroom.com/2021-12-02-Talen-Energy...

The price of the bond about to mature (Dec 15) sank to something like 80c on the $1 several months ago but is trading about 2-3% off par now that earnings were published and new LoC was announced. So it appears that there is still a bit of concern that the deal may fall through but I think it's pretty unlikely. The redemption of what's yet outstanding on this issue is about $115 million.

Fitch did put Talen's debt on neg. watch:
https://www.fitchratings.com/research/corporate-finance/fitc...
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