Blackstone asks its companies hurt by virus to tap credit lines: BBG

(Reuters) – Private equity firm Blackstone Group Inc is asking companies it controls to draw down their credit lines to avoid liquidity crunch, a Bloomberg reporter tweeted on Wednesday, citing people familiar with the matter.

The move comes amid mounting stress in markets due to the coronavirus outbreak and a drop in oil prices, the tweet https://bit.ly/3aLMXuN said.

Blackstone did not immediately respond to a Reuters request for comment.

(Reporting by Bharath Manjesh in Bengaluru)