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Getty’s Lenders Organize on Renewed Risk of ‘Unsustainable’ Debt

Getty’s Lenders Organize on Renewed Risk of ‘Unsustainable’ Debt
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Getty’s Lenders Organize on Renewed Risk of ‘Unsustainable’ Debt Lenders to Getty Images Holdings Inc. have started to organize after the debt-laden photo archive business scrapped a planned merger with Shutterstock Inc., according to people familiar with the matter. Creditors are in talks with advisers including law firm Gibson Dunn & Crutcher, the people said, asking not to be identified discussing private conversations. Last week, S&P Global Ratings said Getty’s costly debt obligations...

Getty’s Lenders Organize on Renewed Risk of ‘Unsustainable’ Debt Lenders to Getty Images Holdings Inc. have started to organize after the debt-laden photo archive business scrapped a planned merger with Shutterstock Inc., according to people familiar with the matter. Creditors are in talks with advisers including law firm Gibson Dunn & Crutcher, the people said, asking not to be identified discussing private conversations. Last week, S&P Global Ratings said Getty’s costly debt obligations could result in a “distressed debt restructuring or default.” [Image text:] gettyimages
Getty Images Holdings Inc. (ORG) Shutterstock Inc. (ORG) Gibson Dunn & Crutcher (ORG) S&P Global Ratings (ORG)
Originally published by Bloomberg Markets Read original →