Thoughts On PPC- Corporate-Porject Workouts Group?

Hi guys,

Do any RX people have insights about this group. By their description it seems almost like an in-house investment banking restructuring group or distressed lending group? I never seen this before from PPC, so I'm genuinely curious what this is about.

PPC Corporate & Project Workouts

Corporate & Project Workouts (“CPW”) is PPC’s dedicated restructuring team, responsible for managing over $1.0bn in assets originated from the regional office network that are experiencing financial distress. The team works closely with borrowers, other lenders, and external advisors to maximize economic recoveries and support companies seeking to implement operational improvements, shifts in business strategy, M&A, and/or new capital raises, which may be achieved through an out-of-court agreement or  in-court process (such as Chapter 11). The team also underwrites protective investments on an as-needed basis, opportunistically purchases distressed securities in the secondary market, and provides consultation services to the regional offices.