RE:negativity
You are wrong. The banks negociated the large loan to acquire AMCo a year ago. The transaction was made in October 2015. At the time, banks take what they are given and, yes, will check into it but they mostly look at the numbers of the audited financial statements and audit reports. They would fly to London, be wined and dined at the finest restaurants, go to great venues with great company, etc. etc.
The numbers from AMCo were great because the price of the drugs had just been jacked up by CInven just before the transaction. The "package" was highly sellable and the cash flow projections were unpassable.
Watch carefully what happens next. Nobody wants to hold the debt here so that's the game. The sales are being impacted (mostly in the US) and people are seeing the writing on the wall and political/public pressure some at them like a tsunami.
The markets will continue see Concordia as untrustable, the business model broken and both the stock and the bonds will continue to crash.
The smart money is looking at when the bond market for CXR will recover, until that time, they are part of the storm and shorting both the stock and the bonds. There is some big money involved, I am sure of that.
This ship has sunk, not all passengers have figured it out and they are in an air bubble deep under water.