OREANDA-NEWS. On Monday, April 27, 2015, Fitch Ratings released a report titled 'Case Studies in Energy, Power and Commodities Bankruptcy Enterprise Valuation and Creditor Recoveries.' After receiving several market inquiries, Fitch has released data for the 21 energy and metals/mining companies identified for significant risk of default.

Using figures from Advantage Data, Bloomberg and Fitch Ratings, Fitch's analysis found that market price pressure drove bids on a meaningful number of bonds below the typical market price distress threshold level of \$0.80. To segment out the companies that Fitch considers to have significant default risk, the agency screened the high yield universe of North American-domiciled energy and metals and mining companies for bond issues with trading bids at a price of \$0.55 or lower.