So it was CCC+ before this 2nd (and 3rd, really) Selective Default they reported on the 8-K.
Does XRX for the SD and back to CCC+ in a few days like last time, or does S&P fing them down to CCC or CCC-?
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Just because LP talks about this nonchalantly doesn't mean it's good, or even OK. It can/will sc--w with the ABL, IP juice loan, credit rating, and the share price.