Back to the future (TT Mar09 p18-19)

After more than 12 months of extremely difficult credit markets we are beginning to see a loosening in market conditions for the largest corporate issuers. Mid-sized and smaller companies, however, are unlikely to benefit. Since the government is unable to solve funding problems for all companies, it will largely fall to treasurers to find alternative means of financing, including sourcing funding from pension funds and insurance companies rather than simply looking to their banking syndicates.