Second Liens Shoot for First Billing

Stein, Gabrielle
April 2007
Investment Dealers' Digest;4/2/2007, Vol. 73 Issue 13, p3
Trade Publication
The article focuses on the characteristics of second-lien loans. According to Fitch Ratings Inc., second-lien investors may find themselves on the losing side of the rivalry with first-lien loan for recovery. Fitch added that second-lien case law is limited because of the low rate of bankruptcy filings during the past three years, less than 1% in 2006 and less than 3.5% in 2004 and 2005 combined.


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