Warren Resources: Possessions May Be Worth $250 Million To $300 Million

Warren Resources (NASDAQ: WRES) fileddeclared bankruptcy defense under Chapter 11 on June 2. This was not unexpected as Warren had hired a Chief Restructuring Policeman in early April. Warren previously mentioned that its first-lien lenders had made a restructuring proposal, but that the second-lien and unsecured lenders had not concurred to it yet. This time…

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S&P Places Boyd Video Gaming (BYD) Scores On Evaluation For Downgrade

Get instantaneous signals when news breaks on your stocks. Assert your 2-week complimentary trial to StreetInsider Premium here. SP International Scores stated it put all scores, including our B corporate credit rating, on Las Vegas-based Boyd Gaming Corp (Boyd) (NYSE: BYD) on CreditWatch with positive implications.The CreditWatch listing shows our expectation that the sale of…

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Credit-Rating Business Ease Up On Valeant (A Little)

Credit-rating agencies are feeling a little much better about Valeant Pharmaceuticals International Inc., but the drug company still has a high mountain to climb. Basic amp; Poors revised its outlook on Valeants corporate credit score and protected debt rating to favorable from developing Tuesday, after the business submitted its late 10-K annual report recently and…

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Truepillars Initially To Let Retail Investors Provide To Business

The investor bids the interest ratethey will lend at within the range quoted.John Baini,co-founder and chiefpresident, is a formerinvestment banker at RBS in London.His last fiveyears there included workingwith companies having difficulty paying their debts.He said one of the significant issues with little businessbank loan in Australia is that banks almost alwaysoften need the family…

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Warren Resources: No Wish For The Common Equity

During conversations about other distressed companies such as Linn Energy and BreitBurn Energy Partners, a commenter brought up Warren Resources (NASDAQ: WRES) as a similar business to look at. After analyzing Warren, I believe that it remains in an even worse scenario than those companies, with restricted hedges remaining and the first-lien debt dealing with…

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Playing Hardball – Breitburn Energy Gets In Into Grace Duration On Its Unsecured Notes – Is There Any Value?

Breitburn Energy Partners LP (NASDAQ: BBEP) (or the Partnership) just recently pickedopted to enter the 30-day interest payment grace duration with respect to interest payments on its exceptional unsecured 7.875 % Senior Notes due 4/15/22 (CUSIP 106777AD7) and its 8.625 % Senior Notes due 10/15/20 (CUSIP 106777AB1) (collectively, the Unsecured Notes) and alsoas well as…

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