Prospect News reports five new defaults for week of Jan. 15-Jan. 21

By Caroline Salls

Pittsburgh, Jan. 23 – Prospect News reported five new defaults for the period of Jan. 15 through Jan. 21.

Specifically, Prospect News reported a Chapter 11 bankruptcy filing made by The Wet Seal, Inc., Companies’ Creditors Arrangement Act filings made by Target Canada Co. and Gasfrac Energy Services Inc., Cal Dive International, Inc.’s missed interest payments on its 5% convertible senior notes due 2017 and Atlantic Housing Foundation Properties’ missed principal and interest payments on its Capital Trust Agency housing revenue refunding bonds series 2008, 2008B and 2008T.

In addition, Prospect News reported Caesars Entertainment Operating Co., Inc.’s Chapter 11 bankruptcy filing and Southern Pacific Resource Corp.’s CCAA filing. However, Caesars previously defaulted in connection with a Dec. 15 missed interest payment and Southern Pacific in connection with a Dec. 31 missed interest payment.

Prospect News has reported 10 defaults so far in 2015, including three Chapter 11 bankruptcy filings, three CCA filings, two missed interest payments and one each of involuntary Chapter 11 bankruptcy filings and missed principal and interest payments.

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