Oil And Gas Creditors Recover $1 Of Every $5 On Defaulted Debt

Creditors who funded the United States’ shale boom are not in good shape to recover their invested funds, according to Moody’s Investors Service.Banks and private lenders have only gotten back $1 of every $5 they invested in companies that declared bankrupt in 2015, the credit rating agency reports, which analyzed 15 bankrupted energy companies with at least $100 million of debt, said. Creditors usually recover three times as much from defaulting debtors.Senior unsecured bondholders recovered just 6 cents for every dollar invested, according to World Oil.

Source: Oil And Gas Creditors Recover $1 Of Every $5 On Defaulted Debt | OilPrice.com

Categories: Energy

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