The New York Chapter of the Turnaround Management Association (TMA NYC) will hold the 15th Annual Professor Altman Luncheon Conference on January 25. Professor Edward I. Altman, of the Stern School of Business at New York University, will present his Annual Corporate Default and Recovery Market Review and Forecast of Expected Credit Market Conditions. This exclusive event is open to TMA NYC members as well as members of the media.
One year after Professor Altman introduced his bubble theory for the global credit markets; he will review those forecasts and provide an update on the default outlook for 2016 and beyond. Conditions in the high yield debt market have, as predicted, taken a decidedly negative turn and spreads have moved from below to above historic averages. Investors are clearly concerned about the future of leveraged finance.
“Recent turbulence in the high-yield market, announcements from several distressed bond funds that they are liquidating assets while preventing investor redemptions, and liquidity problems in certain market segments have dominated the news. How these issues may ultimately resolve themselves is of significant interest to our members,” said Janine M. Figueiredo, a Bankruptcy and Restructuring Partner at Hahn & Hessen LLP, and TMA NYC President. “I look forward to hearing Professor Altman’s insights and this event is definitely one of the don’t-miss conferences of the year for restructuring practitioners.”
A highly sought-after speaker, Altman is the Max L. Heine Professor of Finance at NYU Stern and an esteemed bankruptcy scholar, best known for the development of the Z-Score for predicting bankruptcy. In addition, he is a leading academic on the high-yield and distressed debt markets and is the pioneer in the building of models for credit risk management and bankruptcy prediction.
The event will be held on January 25, 2016 at The Union League Club in New York City. Registration information for TMA NYC members can be found at http://www.turnaround.org/event/professor-altman-annual-luncheon-conference-members-only-event. Click here to join TMA NYC.