Essential credit proves tough to access

Some of the largest and strongest US companies are reporting difficulty accessing essential credit, ...

Some of the largest and strongest US companies are reporting difficulty accessing essential credit, according to research from Greenwich Associates. Research among US companies reveals firms of all sizes and credit ratings are seeing access to short and long-term financing sharply diminished. In past market downturns, US banks have pulled back on their credit commitments to the least qualified borrowers but continued to extend loans to companies with solid, investment-grade ratings. Greenwich Associates consultant Steven Busby said: "This is different and deeper than anyone imagined. ...