Carlyle's Synagro preparing for bankruptcy: source
Post# of 28526
Posted On: 04/24/2013 12:45:06 PM
Carlyle's Synagro preparing for bankruptcy: sources By Tom Hals and Soyoung Kim (Reuters) - Carlyle Group LP's Synagro Technologies Inc is preparing to file soon for Chapter 11 bankruptcy protection to restructure its debt, two sources with knowledge of the situation told Reuters. Synagro is the largest recycler of organic waste in the United States and Carlyle's infrastructure fund borrowed heavily to take it private in 2007 in a $772 million deal. That deal left Synagro vulnerable when municipalities cut spending on wastewater treatment and other environmental projects in the aftermath of the 2008 financial crisis. ...
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