What’s keeping USG Corp. from filing Chapter 11 right now? Of several high yield and equity analysts contacted, none seemed to know. USG, parent of United States Gypsum, announced on June 4 it was considering joining the ranks of the almost 30 public companies which have filed Chapter 11 due to asbestos litigation liabilities. The company’s hopes of any federal legislation were dashed when U.S. Senator James Jeffords (I., Vt.) tipped the Senate in favor of the Democrats. USG also said it would consider a new secured bank financing backed by its assets.
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