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Bloomberg Businessweek Weekend - April 1st, 2022
Bloomberg Businessweek
Are You Buying Russian Corporate Debt?
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Distress debt is a funky business to start with, because these investors are buying ostang vultures, toxics. And particularly if you are operating in distressed sovereign debt, often in emerging markets, you find yourself in the middle of things like humanitarian crises or negotiating with dictators. So some investors who have participated in distressed opportunities like venezuela won't even go near russia. Not only won't those people go near it, but they're turning around to their clients and saying, i'm not going to fire you as a client, but i'm going to have to treat your funds differently.
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