U.S. banks start extending loans to lower-rated companies

09/15/2011 | Wall Street Journal, The

U.S. banks, which are sitting on piles of cash, have started extending loans to companies with non-investment-grade credit ratings. The result has been a drop in borrowing costs for the companies, which use the loans to pay off debt. "Banks are sitting on a ton of deposits and, within reason, they're trying to put that to work," said Richard Bosek of Wells Fargo.

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