It's a pretty binary outcome that traders are facing on this one and there will be a lot of legal ink spilled over it. |
It's a very technical and legal situation. |
The company disclosed one technical covenant breach that appears so small that it raised myriad questions among investors as to why the special dividend was canceled rather than just postponed. |
The deal may be more or less credit neutral for most of the players and a slight credit positive for the industry. |
There are some increased risks for independent institutional brokers [that] are, in a sense, left behind and not picked up by a larger organization with larger capital. |