(This July 3 story has been refiled to give more approximate figure in paragraph 16)
By Valentina Za
MILAN (Reuters) How do you value a bank loan on the brink of default in an economy flirting with recession?
As it prepares to commit to buying billions of euros of such loans in Italy by mid July, U.S. hedge fund Davidson Kempner Capital Management (DKCM) has deployed legions of number crunchers to find out.
Their task is fiendishly complicated, with businesses survival chances often hinging on the prospects for debt restructurings, turnaround plans, securing new investment or even hiring new managers.
But the implications of their work go far beyond the fate of individual borrowers as their success could bolster Italys banking system and …
Read the full article at: https://www.euronews.com/2019/07/04/italy-counts-on-army-of-number-crunchers-to-win-bad-loan-war