hard · Corporate Credit Analysis
A B-rated issuer has $1.2 billion in senior secured debt and $400 million in senior unsecured notes. In a liquidation scenario, the analyst estimates realisable assets at 1.0 billion.
After accounting for 50 million in administrative insolvency carve-outs, what is the recovery percentage for the senior unsecured notes?
- 0%
- 79.2%
- 12.5%
- 23.8%
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