Citigroup and Goldman Sachs have the largest potential exposure to further billion dollar writedowns from unsold leveraged loans and bonds in their first quarter earnings, as the crisis in the leveraged finance market shows no sign of abating, according to analysts.
Bank of America credit analysts said six US banks including Citigroup and Goldman Sachs may be forced to further writedown at least $15.1bn (â¬10.4bn) worth of leveraged loans and high-yield bonds they agreed to underwrite but failed to sell-down or syndicate.
