Recovery Rates From Distressed Debt
Title | Recovery Rates From Distressed Debt PDF eBook |
Author | Mr.Manmohan Singh |
Publisher | International Monetary Fund |
Pages | 26 |
Release | 2003-08-01 |
Genre | Business & Economics |
ISBN | 1451857837 |
On a credit rating-adjusted basis, spreads on U.S. high-yield debt have typically been regarded as a lower bound for emerging market debt. However in the C-rated and defaulted segment, emerging market debt has traded at lower spreads than similarly rated U.S. high yield debt. We show that the lower spreads reflect the fact that the total returns from defaulted debt in the emerging markets have been significantly higher than returns from similarly rated high yield defaulted debt under Chapter 11.
Distressed Debt Prices and Recovery Rate Estimation
Title | Distressed Debt Prices and Recovery Rate Estimation PDF eBook |
Author | Haizhi Lin |
Publisher | |
Pages | 138 |
Release | 2008 |
Genre | |
ISBN |
Recovery Rates from Distressed Debt -- Empirical Evidence from Chapter Ll Filings, International Litigation, and Recent Sovereign Debt Restructurings
Title | Recovery Rates from Distressed Debt -- Empirical Evidence from Chapter Ll Filings, International Litigation, and Recent Sovereign Debt Restructurings PDF eBook |
Author | Manmohan Singh |
Publisher | |
Pages | 36 |
Release | 2003 |
Genre | European Union countries |
ISBN |
Distressed Debt Analysis
Title | Distressed Debt Analysis PDF eBook |
Author | Stephen G. Moyer |
Publisher | J. Ross Publishing |
Pages | 518 |
Release | 2004-11-15 |
Genre | Business & Economics |
ISBN | 1932159185 |
Providing theoretical and practical insight, this book presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The author uses numerous real- world examples to demonstrate concepts and critical issues. Readers will understand the chess-like, multi- move strategies necessary to achieve financially advantageous results.
Corporate Financial Distress, Restructuring, and Bankruptcy
Title | Corporate Financial Distress, Restructuring, and Bankruptcy PDF eBook |
Author | Edward I. Altman |
Publisher | John Wiley & Sons |
Pages | 374 |
Release | 2019-02-27 |
Genre | Business & Economics |
ISBN | 1119481856 |
A comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.
Corporate Financial Distress and Bankruptcy
Title | Corporate Financial Distress and Bankruptcy PDF eBook |
Author | Edward I. Altman |
Publisher | John Wiley & Sons |
Pages | 314 |
Release | 2010-03-11 |
Genre | Business & Economics |
ISBN | 1118046048 |
A comprehensive look at the enormous growth and evolution of distressed debt, corporate bankruptcy, and credit risk default This Third Edition of the most authoritative finance book on the topic updates and expands its discussion of corporate distress and bankruptcy, as well as the related markets dealing with high-yield and distressed debt, and offers state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, the post-emergence period performance of bankrupt firms, and more.
Recovery and Returns of Distressed Bonds in Bankruptcy
Title | Recovery and Returns of Distressed Bonds in Bankruptcy PDF eBook |
Author | Wei Wang |
Publisher | |
Pages | |
Release | 2019 |
Genre | |
ISBN |
Linking the trading price of distressed debt after Chapter 11 filing to the ultimate recovery for a large sample of Chapter 11 cases in the past decade, this paper finds that senior bonds realize large returns while junior bonds realize losses during bankruptcy reorganization. This study then provides several explanations for the return anomaly observed in the distressed debt market. Liquidation, bankruptcy costs, and active involvement by hedge funds contribute to the understanding of the returns of distressed bonds. The large negative returns of the junior bonds during bankruptcy reorganization are most likely the result of their initial overvaluation which was due to their lottery-like features.