patterns / distressed_valuable
credit thesisin the Altman distress zone yet carrying real fixed assets — the company survives on its asset base (0.6× the failure rate): an asset-based lending / rescue-finance target, not a walk-away
In the distress zone by the numbers, yet sitting on real tangible assets — and the assets are exactly why it does NOT fail (0.6× the base failure rate: the collateral carries it through). The textbook asset-based-lending situation.
Private-credit / rescue origination: lend against the assets to refinance the distress, or an asset-purchase play if it does tip over. The one distress pattern where the downside is protected.
The badge is recomputed nightly across the whole index, and re-evaluated live the moment a company files — so a match is always a statement about the current register, not a stale list. Like every signal on the radar: a prompt to look closer, never a verdict.