NEW YORK, Nov. 11, 2015 /PRNewswire/ -- The Deal, a business unit of TheStreet, Inc. (NASDAQ: TST), announced the results of its exclusive rankings of the top investment banks, law firms and restructuring advisers involved in out-of-court restructurings. Data collected captures advisers to distressed companies with financial restructurings active between July 1 and Sept. 30, 2015.

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"The commodities downturn was a major engine of distress last quarter, and restructuring advisers expect to see even more activity in the next few quarters," said The Deal's senior reporter Lisa Allen. "Credit markets are becoming increasingly wary of stressed and distressed companies, so aspiring borrowers may have trouble refinancing their way out of debt."

League Table highlights:


    --  Lazard Ltd. was the top financial adviser to distressed companies, with
        18 deals. Moelis & Co. LLC was second, with 17 deals. Blackstone
        Advisory Partners LP and Houlihan Lokey both ranked third, with nine
        deals each, followed by Morgan Stanley with eight deals.
    --  Houlihan Lokey was the top financial adviser to creditors, with 10
        deals. Blackstone Advisory Partners LP was second, with five. Lazard
        Ltd. and Rothschild tied at third, with three deals each.
    --  Among law firms, Kirkland & Ellis LLP and Latham & Watkins LLP were tied
        for the top counsel to distressed companies, with eight deals each.
        Cleary Gottlieb Steen & Hamilton LLP was second, with seven deals.
    --  Akin Gump Strauss Hauer & Feld LLP ranked first for the top counsel to
        creditors, with 10 deals. Davis Polk & Wardwell LLP ranked second, with
        seven deals. Cadwalader, Wickersham & Taft LLP ranked third, with six
        deals, and Kirkland & Ellis LLP ranked fourth, with five deals.
    --  Alvarez & Marsal LLC and FTI Consulting Inc. ranked first and second,
        respectively, as the top restructuring advisers to distressed companies.
        Alvarez & Marsal LLC had 12 deals as the adviser to distressed
        companies. FTI Consulting Inc. LLC had five. AlixPartners LLP and
        PricewaterhouseCoopers LLP tied for third place, with three deals each.

The full report is available online.

About The Deal's Out-of-Court Restructuring League Tables
 The Deal's Out-of-Court Restructuring league tables are based on distressed companies that have announced financial restructurings for the first half of 2015. Minimum requirements for inclusion include: announcement date between July 1 and September 30, 2015; at least one (1) piece of debt amount stated (bond, note, loan, credit facility, etc.); credit facility security (secured or unsecured); and name of the distressed company. Roles in the league tables will be: legal advisory, financial advisory and other advisory (including Public Relations or Restructuring Adviser).

About The Deal
 The Deal is a media and technology company providing over 100,000 users with actionable ideas from its two services - The Deal & BoardEx. Law firms, investment banks, private equity firms and hedge funds use The Deal service to find their next deal and BoardEx to connect the dots between their organizations and clients. The Deal is a business unit of TheStreet, Inc. and has offices in New York, London, Washington, D.C., Petaluma, CA and Chennai, India. For more information, visit www.thedeal.com.

Contact: Aedin Moloney, 212.321.5541, Aedin.Moloney at thestreet.com

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SOURCE TheStreet, Inc.