In the wait and see scenario, $WLL's debt and debt servicing costs continue to impact the theoretical equity side of the capital structure.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1255474/000125547420000007/wll-20191231x10k.htm#Item8FinancialStatementsandSupplementary
At some point there will need to be a haircut, which is what the deterioration in some of the bond issues shows. Red circles indicate likely haircut candidates.
http://finra-markets.morningstar.com/BondCenter/Results.jsp
The paradox of iHub: buy high, sell low
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