Capital Restructuring | Second Quarter 2014

September 2014 – In this edition, we provide our second quarter 2014 perspectives on the restructuring market. According to Moody’s and S&P, default rates held relatively steady during the Second Quarter 2014, at 1.9% and 1.6%, respectively. EFH’s bankruptcy was already heavily expected, and hence has been excluded from the reported figures. A potential bankruptcy filing from another struggling giant, Caesars Entertainment Operating Co., would propel the trailing 12-month U.S. high yield default rate to higher levels.

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