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  • High Yield Market Jumps the Shark on Record Low Recoveries [View article]
    Tylerr, thanks for the insghtful article. Still, I have troubles understanding your recovery ratio calculation. Apparently, you take the settlements arrived at in the CDS markets. However, nobody can tell what the real recovery rate will be of the ch11 processes. For instance, Tribune could end up with a recovery of significantly more than the 2.5% for unsecured, Aleris could well above the 0.1% - dpending on how the companies can restructure.
    So relevant as these figures may be for CDS gamblers, they may not mean all that much to real bondholders, isn't it?
    Apr 27 03:49 am |Rating: +2 -1 |Link to Comment
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