As more companies emerge from bankruptcy after defaulting in 2008 and 2009, Standard & Poor's believes that recovery rates have rebounded but won't reach their heyday highs of 2006 and 2007. In this CreditMatters TV segment, Associate Evan Gunter, of Global Fixed Income Research, compares the latest recovery rate with the historical average, the role of distressed exchanges in the recovery process, and the position of debt in the capital structure.
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