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I'd work hard but it isn't the end of the world. Definitely an up hill battle but if you're in a good group you should be fine. Ask where your group has placed historically. If you truly want to do distressed debt maybe look at Rx opportunities after you secure an offer. I'd even go as far as start networking while interning (use your personal email account). I know an intern who did this and had super days with top groups after receiving an offer and moved banks

 

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