medium · Corporate Credit Analysis distressed
A company liquidates with 1.2 billion in assets. The stack is: 200.0 million Admin/Priority, 600.0 million 1st-Lien, 400.0 million 2nd-Lien, and 300.0 million Senior Unsecured.
What is the recovery for the 2nd-Lien?
- 75.0%
- 0.0%
- 50.0%
- 100.0%
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