Jumbo LBO deals fared badly - Moody's report

* LBOs by Apollo, Cerberus performed worse - report

* KKR has low distressed rate-report

* Refinancing risk looms for deals

By Megan Davies

NEW YORK, Nov 5 (Reuters) - Leveraged buyouts struck by Cerberus Capital [CBS.UL] and Apollo Management [APOLO.UL] are performing worse than deals by other private equity firms such as Kohlberg Kravis Roberts & Co [KKR.UL], a report by Moody's said on Thursday.

Moreover, mega-deals have fared badly on average, said the report, which studied 186 deals structured during the 2004-7 bubble period.

Moody's picked deals on the basis that they were investments made by the largest private equity firms; had a rating by Moody's during the period January 2008 to October 2009, and were financed or structured in the 2004-7 time frame.

The findings showed that 65 percent of Apollo's deals surveyed and 67 percent of Cerberus' were classed as either in default or distress.

Moody's includes debt-for-debt and debt-for equity swaps as a default, as well as the repurchase of a significant portion of the company's debt through open-market repurchases. It notes in the report that not all investors would consider all of those categories as a default.