FTX Expects to Repay Customers in Full, Bankruptcy Lawyer Says - Bloomberg: Customers and creditors of bankrupt crypto exchange FTX who can prove their losses will likely get back all of their money, the company told the judge overseeing the insolvency case.
North American Corporate Downgrades Exceed Upgrades for 6 Straight Quarters: The downgrade-to-upgrade ratio was 1.5x for 4Q23, compared with 1.2x for 3Q23 and 2.3x during 4Q22. The downgrade-to-upgrade ratio for speculative-grade issuers continues to exceed that of investment-grade issuers at 1.6x during 4Q23, compared with a ratio of 0.4x for investment-grade companies.
Pro Take: Foreign Creditors Face Challenge in Reaching China Evergrande’s Assets - WSJ: It might take years to recover pennies on the dollar on nearly $20 billion in debt investments
