November 22th 2020
Currently tracking 177 credits
If you wish to view the Distressed Watchlist within Google Sheets, please request access to it and I will shortly grant you access to it.
I skipped pricing the distressed watchlist last weekend but I am kind of glad I did. Seeing movements bi-weekly instead of weekly can show some larger trends.
AMC Entertainment (AMC)
AMC bonds continue to rally off their all-time lows hit earlier this month. The first lien notes are now back at 75 yielding 19.2%.
Guitar Center (GTRC)
As expected, the company filed for bankruptcy over this past weekend. The majority of debt will be reorganized into equity.
GTT Communications (GTT)
The company's equity and bonds have headed lower this month as the company seeks a short-term financing until their infrastructure unit sale is completed. The GTT 7.875% notes traded down to 33 yielding 43.4%.