Watch First Brands Is Great Company With Bad Balance Sheet, Says Marathon’s Richards

Marathon Asset Management LP Chief Executive Officer Bruce Richards says First Brands is a “great company” with a bad balance sheet. Marathon, a distressed-debt investor, bought the term loan of First Brands at around 40 cents on the dollar. “We feel good about that position because we think it’s a great company that needs to be restructured,” Richards said on “Bloomberg Open Interest.” (Source: Bloomberg)