interpretation

I think this rather lame anouncement by the company:
"repay debts in full"

..... means that BBG is unfortunately in an orderly landing mode to satisfy its bankers whereas administration leading to a fire sale would place the senior debt position at risk of potentially receiving less return of capital.

Looks like Altamont will get some bargain basement buys after all.

Here is hoping for some more green shoots from the Northern Hemisphere summer to provide some hope to existing shareholders