Prospect News reports four new defaults for week of Nov. 10 to Nov. 16

By Caroline Salls

Pittsburgh, Nov. 18 – Prospect News reported four new defaults for the week of Nov. 10 through Nov. 16.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by Xtera Communications, Inc. and American Apparel, LLC, an Island Offshore Shipholding LP missed principal payment and Rickmers Maritime’s missed interest payment on its 8.45% notes due 2017.

Prospect News also reported a missed interest payment on Stone Energy Corp.’s 7˝% senior notes due 2022. However, Stone had previously defaulted in connection with a missed interest payment, paid within the grace period, on May 16, 2016.

So far this year, Prospect News has reported 209 defaults, including 96 Chapter 11 bankruptcy filings, 47 missed interest payments, 11 missed principal and interest payments, 10 each of missed principal payments and Chapter 15 bankruptcy filings, five each of Companies’ Creditors Arrangement Act filings, Chapter 7 bankruptcy filings and missed interest payments paid within the grace period, three restructurings, two each of insolvencies, administrations and recapitalizations and one each of bankruptcies, CBCA filings, judicial management requests, schemes of arrangement, plans of arrangement, debt arrangements, missed interest payments paid late, liquidations, mandataire ad hoc appointments, suspensions of payments and homologaciones.

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