Reuters, Bloomberg and Debtwire are all reporting negative financial information about your customer:
"Bond ratings are down-graded, bond prices are falling, a likely “restructuring” to address the bond debt, bondholders form an “ad hoc” committee to negotiate with the customer, the bondholders retain financial advisors and counsel … as does the customer."
You know what’s coming, a Chapter 11 filing, but the customer will not confirm that. In fact, the customer denies the “rumors”, fearful of triggering defaults and losing credit terms provided by suppliers.
Originally published in "Credit Research Foundation" in 2014.
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