Gearing up for fresh snow

摘要

With company default rates at historical lows, pickings have been thin on the ground for the much-maligned distressed debt banker. But lenient lending policies to troubled firms in recent years may mean a bonanza is on its way. "If there is an economic blow-out it would be like having a dump of fresh snow," says an investment banker in distressed debt who, like many in this stigmatised industry, asked not to be quoted.