Thursday, August 16, 2007 , Updated
Potential TXU buyer KKR Financial may be in financial trouble
DALLAS According to a number of sources, including Barron's, Forbes and Blogging Stocks, it appears that well-respected financial firm and real estate mogul KKR Financial is experiencing a cash crunch.
The likely purchaser of Texas energy giant TXU seems to be getting hit hard by the bottoming-out real estate market, particularly in the area of 'jumbo mortgages', or mortgages of more than $400,000. As a result, one credit rater, Fitch, downgraded KKR stock from their 'highest rated' status to 'junk'.
In related news, KKR has tried to reassure investors that everything is just fine.
Posted by Todd M.
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