it keeps falling and falling on no apparent news. it seems to me that the de-stacking is positive so anyone have any insights into the negative momentum?
vrs management knows what it needs to do. if they want bondholders to take a haircut, then they need to offer up equity. otherwise, bondholders can sit tigt and let the merger collapse. bondholdders might even take all the equity in a chapter 11 filing.
Once the company starts to bring down interest expense, it can start to better work the capital structure...a winning formula
I bought in anticipation of bankruptcy. Mexican bankruptcies are not like US bankruptcies from what I hear. Equity often comes out with a lot. I expect the government to eventually show some flexibility as I doubt it wants to see an entire industry go bust!