hard · Corporate Credit Analysis distressed
A corporate group has a 'Silo' structure where a specific subsidiary (Sub A) has $200 million in non-recourse debt.
If Sub A has an EV of $150 million and the Parent has an EV of 800 million (excluding Sub A), what is the recovery for the Parent's unsecured creditors if the Parent has $400 million in debt?
- 87.5%
- 93.8%
- 75%
- 100%
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