Government Debt Maturity and Recoveries on Defaulted ...

The omitted category is junior subordinated bonds. We see that term loans and revolvers have recoveries which are roughly 40 to 50 percent greater; senior secured and senior unsecured bonds are seen to have recoveries which are 30 to 40 percent greater; and senior subordinated and subordinated bonds have recoveries roughly 15-25 percent greater. ................
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