Special Situations

EMEA Special Situations: Adler AGPS bondholders approve recap amendments, ‘far surpassing’ 75% support threshold for each series

PREPA: 1st Circuit Holds Revenue Bonds Are Secured

SVB Financial Reveals IRS Tax Liability of $650mn, Signaling More Delays

PluralSight Raises Preferred Equity, Conducts Drop-Down Liability Management Transaction

US/EMEA Special Situations: Medical Properties Trust – Risk Primer

Altice USA Debt Tumbles as Management Hints at Potential LME, Creditor Group Swells

Adler set for restructuring round two as German real estate downturn lasts longer than expected; hopes to complete BCP stake sale by year-end

First-Lien Debt Recovery Prospects Deteriorate for Broadly Syndicated and Middle Market Issuers, Fitch Says

Thames Water (Kemble): Uncharted Waters

RiteAid Strikes Deal with McKesson and DOJ, Paving Way for Rite Aid 2.0

Altice France: Screens Painted Red by SFR

US/EMEA Insight: Floored by Altice’s new stance and with ‘trust broken’, lenders hunt for clarity on borrower’s deleveraging plans

Altice France Bonds Continue to Slide as Advisors Size Up Mandate Opportunities; Drahi Burning Bridges with Bond Investors, Says CreditSights

Enviva bankruptcy plan allows for $1bn in debt post-emergence; bonds rally more than 10 points — Quick Take

Spirit Airlines ‘Triple Dip’ Analysis

US/EMEA Special Situations: McDermott’s marathon Restructuring Plan hearing starts in High Court, with Reficar pushing back on $1.3bn claim wipe-out; liquidity problems an issue as advisory bill tops $150mn