Banks Are Likely to Forgo “Amend and Extend” Approach to Loans

Kurtzman Carson Consultants says that in 2012, banks are likely to be more selective about extending credit, ending the “amend and extend” approach. “Amend and extend deals were done based on expectations of economic improvement that have not happened,” said Benjamin Schrag, vice president of business development at Kurtzman Carson. “It can’t go on forever. The economic situation hasn’t improved.”

http://www.thestreet.com/story/11336637/1/banks-to-end-amend-and-extend-in-2012.html