Photographer: Andrew Burton/Getty Images

Oil Bankruptcies Leave Lenders With ‘Catastrophic’ Recovery Rate

  • Rate of 21% in 2015 compares to average of 59% previously
  • Bankruptcies so far this year are double last year’s total

U.S. oil bankruptcies haven’t been this “catastrophic” for lenders in a long time, in what may be the worst bust of any industry this century, according to Moody’s Investors Service.

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