Obbligazioni in default Default Season 2009
- Creatore Discussione Imark
- Data di Inizio
bulogna
Forumer storico
Safilo, Moody's tiene rating su debito lungo a Caa3, C su bond
giovedì 22 ottobre 2009 16:30
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MILANO, 22 ottobre (Reuters) - Moody's ha mantenuto il rating sul debito a lungo termine di Safilo (SFLG.MI: Quotazione) a "Caa3" e quello sul prestito obbligazionario, scadenza 2013 da 195 milioni, High Yield a "C".
Lo comunica la società veneta di occhialeria in una nota, in cui ricorda anche la decisione ieri di Fitch di tagliare l'Issuer Default Rating (IDR) da "CC" a "C" e di aver mantenuto sul bond High Yield "C", con credit watch negativo.
Lunedì sera Safilo ha annunciato un complesso piano di ricapitalizzazione che prevede un nuovo azionista di riferimento, Hal Holding, e anche un'offerta sul bond pari al 60% del prezzo nominale.
In un 'issuer report' diffuso ieri e dedicato all'operazione sul capitale, l'agenzia di rating non ha mutato le proprie valutazioni sul merito di credito dell'emittente.
"L'annuncio dell'operazione di ricapitalizzazione, scrive l'agenzia "non ha un impatto immediato sui rating della società, che restano invariati [...]. Per quanto veda i potenziali benefici della ristrutturazione del capitale sulla riduzione della tempistica di ammortamento del debito e sul miglioramento del profilo di liquidità, Moody's tornerà a valutare rating e outlook di Safilo soltanto una volta completata l'offerta".
paologorgo
Chapter 11
We saw 15 public companies file for bankruptcy in month of October which brings our year-to-date total (through October 31) to 181 public company bankruptcy filings.
Public companies that filed for bankruptcy in the month of October 2009
Company
Edge Petroleum Corporation
Accuride Corporation
True Temper Sports, Inc.
Stallion Oilfield Services Ltd.
NTK Holdings, Inc. (Nortek, Inc.)
Sterling Energy Resources, Inc.
SystemOne Technologies Inc.
Capmark Financial Group Inc.
FairPoint Communications, Inc.
California Coastal Communities, Inc.
Caneum, Inc.
CanArgo Energy Corporation
Rancher Energy Corp.
South Texas Oil Company
Otter Tail Ag Enterprises, LLC
Public companies that filed for bankruptcy in the month of October 2009
Company
Bankruptcy Date
Type of Filing
10/01/09
11
10/08/09
11
10/08/09
11
10/19/09
11
10/21/09
11
10/21/09
11
10/21/09
11
10/25/09
11
10/26/09
11
10/27/09
11
10/28/09
7
10/28/09
11
10/28/09
11
10/29/09
11
10/30/09
11
mago gambamerlo
Xx Phuket xX
esiste et eventl. dove posso trovare lista societa in default europee ? oeventl. in procinto di andare in default ? ringrazio.Imark
Forumer storico
A pagamento, nei loro report, S&P e le altre agenzie indicano emittenti il cui profilo di rischio è elevato al punto da rendere verosimile un default nel breve termine... anche nei cd. recovery report le agenzie si spingono ad ipotizzare date per un possibile default ma, once again, sono a pagamento dai successivi aggiornamenti ai primi recovery rating, che datano per il corporate a circa metà del 2008.
Imark
Forumer storico
Nel mentre, è andata definitivamente in default, accedendo all'amministrazione controllata, Thomson SA, ed è uno dei rari casi in cui la Francia lascia defaultare un'azienda tecnologica, per quanto decotta... si tratterà di una procedura veloce, che dovrebbe vedere Thomson venirne fuori per Febbraio 2010.
French Technology Group Thomson S.A. Ratings Revised To 'D' On Filing for Safeguard Proceedings
Publication date: 01-Dec-2009 00:09:49 EST
The recovery ratings on the above bank loan and subordinated debt are unchanged, at '3' and '6', respectively, indicating our expectation of meaningful (50%-70%) and negligible (0%-10%) recovery for unsecured and subordinated creditors (respectively).
The rating actions reflect Thomson's announcement yesterday that it has filed for "Procédure de Sauvegarde" (safeguard proceedings) to implement its debt restructuring. Under Standard & Poor's methodology, an issuer credit rating is placed on 'D' upon a bankruptcy filing or similar action, implying that the issuer will fail to meet its debt obligations on the terms originally contracted. (See section "Definitions" in "Corporate Ratings Criteria 2008".")
Under the safeguard proceedings, Thomson plans to put to the vote of its
lenders and bondholders on Dec. 21 and 22, 2009 (and to its shareholders on Jan. 27, 2010) a restructuring plan based on the terms agreed on July 24, 2009 by the majority of its senior creditors. If the plan is approved, the company expects the end of the safeguard proceedings by February 2010.
Should the plan not be approved, the company will request the Court on Dec. 23, 2009 to enforce a safeguard plan in accordance with the French commercial code provisions. Under such a court-imposed plan, the company expects its current debt would be maintained, principal repayment rescheduled over 10 years with annual repayment of 5% during the first nine years and with unchanged interest rates.
Thomson's restructuring agreement of April 24, 2009, provides for a reduction in gross senior debt to €1.55 billion from €2.84 billion, primarily through a debt-for-equity swap and some instruments ("obligations remboursables en actions" [ORAs]) providing deferred access to equity.
Thomson would also issue some notes, to be repaid with the proceeds of the expected asset disposals. At the outset of this restructuring plan, Thomson expects it would have cash of about €400 million.
"When Thomson emerges from reorganization, we will reassess the ratings and the factors behind them, taking into account what precipitated the default and also any gains achieved through the reorganization process," said Standard & Poor's credit analyst Leandro de Torres Zabala.
French Technology Group Thomson S.A. Ratings Revised To 'D' On Filing for Safeguard Proceedings
Publication date: 01-Dec-2009 00:09:49 EST
- On Nov. 30, 2009, Thomson S.A. filed for "procedure de sauvegarde."
- As a result, we are revising Thomson's ratings to D (default) from SD (selective default).
- We expect to reassess Thomson's ratings when the company emerges from "sauvegarde."
The recovery ratings on the above bank loan and subordinated debt are unchanged, at '3' and '6', respectively, indicating our expectation of meaningful (50%-70%) and negligible (0%-10%) recovery for unsecured and subordinated creditors (respectively).
The rating actions reflect Thomson's announcement yesterday that it has filed for "Procédure de Sauvegarde" (safeguard proceedings) to implement its debt restructuring. Under Standard & Poor's methodology, an issuer credit rating is placed on 'D' upon a bankruptcy filing or similar action, implying that the issuer will fail to meet its debt obligations on the terms originally contracted. (See section "Definitions" in "Corporate Ratings Criteria 2008".")
Under the safeguard proceedings, Thomson plans to put to the vote of its
lenders and bondholders on Dec. 21 and 22, 2009 (and to its shareholders on Jan. 27, 2010) a restructuring plan based on the terms agreed on July 24, 2009 by the majority of its senior creditors. If the plan is approved, the company expects the end of the safeguard proceedings by February 2010.
Should the plan not be approved, the company will request the Court on Dec. 23, 2009 to enforce a safeguard plan in accordance with the French commercial code provisions. Under such a court-imposed plan, the company expects its current debt would be maintained, principal repayment rescheduled over 10 years with annual repayment of 5% during the first nine years and with unchanged interest rates.
Thomson's restructuring agreement of April 24, 2009, provides for a reduction in gross senior debt to €1.55 billion from €2.84 billion, primarily through a debt-for-equity swap and some instruments ("obligations remboursables en actions" [ORAs]) providing deferred access to equity.
Thomson would also issue some notes, to be repaid with the proceeds of the expected asset disposals. At the outset of this restructuring plan, Thomson expects it would have cash of about €400 million.
"When Thomson emerges from reorganization, we will reassess the ratings and the factors behind them, taking into account what precipitated the default and also any gains achieved through the reorganization process," said Standard & Poor's credit analyst Leandro de Torres Zabala.
negusneg
New Member
Mi era sfuggito il "selective default", pare dovuto ad una ristrutturazione del debito fatta in agosto
Posto qualcosa anche nel 3D perpetuals, e c'è qualcosa anche sui CDS...
Imark
Forumer storico
Mi era sfuggito il "selective default", pare dovuto ad una ristrutturazione del debito fatta in agosto
Posto qualcosa anche nel 3D perpetuals, e c'è qualcosa anche sui CDS...
Infatti...
paologorgo
Chapter 11
We saw 16 public companies file for bankruptcy in November which brings our year-to-date total (though the end of November) to 197 public company bankruptcy filings.
Company Name
Bankruptcy Start
Global Energy Holdings Group, Inc.
ECO2 Plastics, Inc.
Majestic Star Casino, LLC, The
GSI Group Inc.
Penn Traffic Company, The (2009)
deCODE genetics, Inc.
Simmons Company
Champion Enterprises, Inc.
Altus Pharmaceuticals Inc.
NutraCea
Advanta Corp.
Teton Energy Corporation
Temecula Valley Bancorp Inc.
Lazy Days' R.V. Center, Inc.
Panolam Industries International, Inc.
CIT Group Inc.
Company Name
Bankruptcy Start
Filing Type
11/25/09
11
11/24/09
11
11/23/09
11
11/20/09
11
11/18/09
11
11/16/09
11
11/16/09
11
11/15/09
11
11/11/09
7
11/10/09
11
11/08/09
11
11/08/09
11
11/06/09
7
11/05/09
11
11/04/09
11
11/01/09
11
paologorgo
Chapter 11
solo 8, anche l'attività dle tribunale rallenta verso Natale. 207 fallimenti di ditte quotate nel 2009, quasi una al giorno (lavorativo). 
We saw eight public companies file for bankruptcy in December which brings the 2009 total to 207 public company bankruptcy filings.
Company Name
Technipower Systems, Inc.
Energy
Walking Company Holdings, Inc., The
Retail
SKYE International, Inc.
Retail
Pacific Coast National Bancorp
Banking & Finance
Vion Pharmaceuticals, Inc.
Healthcare & Medical
Citadel Broadcasting Corporation
Telecommunications
TLC Vision Corporation
Health Care & Medical
Imperial Capital Bancorp, Inc.
Banking & Finance
We saw eight public companies file for bankruptcy in December which brings the 2009 total to 207 public company bankruptcy filings.
Company Name
Bankruptcy Start
Industry
Filing Type
12/02/09
11
12/07/09
11
12/16/09
11
12/17/09
7
12/17/09
11
12/20/09
11
12/21/09
11
12/18/09
11