Weil Restructuring Outlook: 2013 Survey

Question Title

1. Which (slightly modified) movie quote best describes the economic outlook for 2013?

Apocalyptic - Les Misérables: "An economy like this can never change"

Bearish - Argo: "Bad news, bad news. Even when it's good news, it's bad news. John Wayne in the ground 6 months and this is what is left of America."

Neutral/No idea - Life of Pi: "Above all: don't lose hope."

Bullish - Silver Linings Playbook: "Let me tell ya. You gotta pay attention to signs. When life reaches out with a moment like this it's a sin if you don't reach back... I'm telling you."

Wildly Optimistic - Anchorman: The Legend Continues: "I don't know how to put this, but 2013 is going to be kind of a big deal."

Question Title

2. How many jumbo chapter 11/chapter 15 cases (assets greater than $1 billion) will file in 2013?

Hint: In 2012, 14 jumbo chapter 11/15 cases filed, while ten jumbo chapter 11/15 cases filed in 2011. There were 19 jumbo chapter 11/15 cases in 2010, and in the very busy year of 2009, the 20th largest case was Station Casinos with $5.8 billion in assets.

None

1-5

6-10

11-15

16-20

21 or more

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3. What will the U.S. trailing-12-month speculative-grade corporate default rate be as of December 31, 2013?

Hint: The trailing-12-month speculative-grade corporate default rate ended the year at 2.06% in December 2012, slightly up from 2.05% in December 2011, and down from 3.3% in December 2010.

Less than 2%

2-3%

4-5%

6-10%

11-15%

Greater than 15%

Question Title

4. What will the yield on a 10-year US Treasury note be on December 31, 2013?

Hint: At December 31, 2012, the yield on the 10-year T-bill was 1.78%, down from 1.89% at December 31, 2011.

Below 1.0%

1.0 to 1.5%

1.6 to 2.0%

2.1 to 3.0%

3.1 to 4.0%

4.1 to 5.0%

Above 5.0%

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5. Please choose the top three industries you think will face distress in 2013:

Airlines

Agriculture/Food

Automotive

Banking and Finance

Commercial Real Estate

Energy

Entertainment/Sports

Insurance

Health Care, Medical and Pharmaceutical

Homebuilding/Residential Properties

Hospitality and Gaming

Media/Communications/

Publishing

Manufacturing

Restaurants

Retail

Personal Services

Technology

Telecommunications

Transportation

Question Title

1. Which (slightly modified) movie quote best describes the economic outlook for 2013?

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Question Title

3. What will the U.S. trailing-12-month speculative-grade corporate default rate be as of December 31, 2013? Hint: The trailing-12-month speculative-grade corporate default rate ended the year at 2.06% in December 2012, slightly up from 2.05% in December 2011, and down from 3.3% in December 2010.

Question Title

4. What will the yield on a 10-year US Treasury note be on December 31, 2013?Hint: At December 31, 2012, the yield on the 10-year T-bill was 1.78%, down from 1.89% at December 31, 2011.

Question Title

5. Please choose the top three industries you think will face distress in 2013:

3. What will the U.S. trailing-12-month speculative-grade corporate default rate be as of December 31, 2013?

Hint: The trailing-12-month speculative-grade corporate default rate ended the year at 2.06% in December 2012, slightly up from 2.05% in December 2011, and down from 3.3% in December 2010.

4. What will the yield on a 10-year US Treasury note be on December 31, 2013?

Hint: At December 31, 2012, the yield on the 10-year T-bill was 1.78%, down from 1.89% at December 31, 2011.