01629cas a2200241 a 4500 AALejournalIMF002406 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451857832 1018-5941 BD-DhAAL BD-DhAAL Singh, Manmohan. Recovery Rates From Distressed Debt : Empirical Evidence From Chapter 11 Filings, International Litigation, and Recent Sovereign Debt Restructurings / Manmohan Singh. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (24 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students On a credit rating-adjusted basis, spreads on U.S. high-yield debt have typically been regarded as a lower bound for emerging market debt. However in the C-rated and defaulted segment, emerging market debt has traded at lower spreads than similarly rated U.S. high yield debt. We show that the lower spreads reflect the fact that the total returns from defaulted debt in the emerging markets have been significantly higher than returns from similarly rated high yield defaulted debt under Chapter 11. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2003/161 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/161/001.2003.issue-161-en.xml IMF e-Library