Does that J Crew loan covenant only come in an extra-small?

Chris Fenske, co-head of fixed income pricing research at IHS Markit,on a creative way to restructure debt.

The increased ­financial distress in some segments of the retail clothing sector is resulting in some companies using creative ways to restructure their debt without ­ ling for bankruptcy. For example, J Crew recently initiated such a restructuring of its over $2bn in debt through the transfer of over 70%