Davis Polk partner Brian Resnick spoke with Bloomberg about restructuring trends in the current market. “In the past few years, when rates were lower and financing was more available, companies had more opportunities to stave off a bankruptcy and do a liability management transaction,” said Brian.

He continued, “With the current state of the markets, we are still seeing some of that, but more companies are needing to do more comprehensive restructurings, either in- or outside of bankruptcy court.”

Corporate Debt Becomes Market of Haves, Have-Nots: Credit Weekly,” Bloomberg (March 25, 2023) (subscription required)