The North America Biweekly Credit Report Summary presents snapshots of research published by the Credit Research team during the two preceding weeks. The report aims to keep our subscribers informed of the biweekly research publications by providing ease of access to centralized information and the opportunity to catch-up on any research missed by readers over the prior two weeks. Each summary will include the company’s capital structure, performance summary and the Debtwire Likely to Distress (LTD) Predictive Analytics.

This week’s edition includes coverage of our most viewed credit report, Avaya, which released its cleansing material and disclosed multiple restructuring proposals from credit groups. Negotiations with its first-lien lenders reportedly include a USD 450m DIP to finance the firm while in bankruptcy. This week’s edition also includes coverage of Brazilian company InterCement and Mexican company Financiera Independencia, both owing USD-denominated debt.

The report highlights the following companies with a recovery rate of less than 100% for their secured and unsecured debt:

• Avaya
• Lannett
• ATIP
• Amyris