Let's bring in Dan Res Muen. He's the founder and portfolio manager at Verdad Capital. Dan, really appreciate it.And it's important to set the stage here because in some ways there were going to be problems or or the sort of problems were going to come home to roost in private equity one way or the other. And we thought it was going to be from higher interest rates. you know that that in many ways was going to be the no one really saw oh by the way the thing they invested in private equity and credit over t ...

Vanke's $12 billion record loss underscores how its ability to avoid default depends on how far its state shareholder is willing to support the stricken property developer https://t.co/SAimvHq5u9 ...

Financial Distress - China Vanke, a distressed developer, faces potential default risk [1] - Creditors rejected China Vanke's initial proposal to postpone an upcoming bond payment [1] Company Strategy - China Vanke plans to refine its proposal to delay the bond payment following creditor pushback [1]

Financial Risk - China Vanke Co faces increased default risk after a local bond extension plan failed [1] Company Operations - The bond extension plan was intended to extend past December 15 [1]

Core Insights - New Fortress Energy Inc. (NFE) shares experienced a significant increase of 20.54% in after-hours trading, reaching $1.76, following a 25.86% rise during the regular session, closing at $1.46 [1][6] Financial Developments - The company signed an Eleventh Amendment to its Letter of Credit and Reimbursement Agreement with Natixis, extending the credit facility's maturity date to March 31, 2026 [2][3] - The amendment provides a covenant holiday for the consolidated first lien debt ratio and fixed charge coverage ratio for the fiscal quarters ending in September and December, while eliminating minimum liquidity requirements [3] - However, the company has lost some flexibility regarding dividend payments and distributions due to the amendment [3] Default Risk and Financial Distress - The amended agreement restricts payments on certain outstanding debt, including an interest payment due on November 17 for the company's 2029 Notes Indenture [4] - A warning was issued that failure to comply with the Forbearance and Waiver Agreement could lead to a default, potentially accelerating all outstanding debt and necessitating additional restructuring initiatives, which could adversely affect stockholders [5] - Fitch Ratings downgraded the company's Long-Term Issuer Default Rating to 'RD' (Restricted Default) following a missed interest payment [5] Stock Performance Overview - NFE shares have declined by 91.04% year-to-date, with an annual trading range between $0.98 and $16.66, and a market capitalization of $415.45 million [6] - Current stock performance indicates a negative price trend across all time frames according to Benzinga Edge Stock Rankings [6]

Whether it’s FOMO, economic optimism, or simply too much cash chasing too few securities, right now bond investors are accepting the smallest compensation in years in return for taking default risk https://t.co/DKZmGQM4ix ...