First Eagle High Yield Fund Comments on Meredith

Guru stock highlight

Oct 24, 2019

After media conglomerate Meredith (MDP, Financial) reported disappointing guidance, its stock fell sharply and in our view, its bonds declined modestly. Meredith is not highly leveraged, and it continued to make asset sales. We are not concerned about this credit.

From First Eagle Investment (Trades, Portfolio)'s High Yield Fund third-quarter 2019 shareholder letter.

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