BANKRUPT · Warning ListTurkey
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Vestel Elektronik
When a company asks lenders to accept 55 cents on the dollar, the strain is plain. Moody's cut its rating to Ca on 2 October.
80/100WarningBANKRUPT MeterSeveral serious signs at once.
1Where it stands
Nothing filed yet.
Vestel has not filed. It asks the holders of its $500m bonds to accept either a 45% cut or a six-year delay. The vote is due by 6 November.
2The signals
What the sources say.
- Offered bondholders a 45% cut, or a six-year delay at a lower interest rate · ad-hoc-news.de
- Moody's cut its rating to Ca · ad-hoc-news.de
Every line links to its source. The Meter and the verdict are Max Noble’s analysis.
Next
The full case is coming.
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