{
  "docId": "019dd923-5ca1-7489-b633-dd0013a63889",
  "docSlug": "444c2570e8f0ee01",
  "documentTitle": "European Distressed Credit Watch List",
  "authorId": "AlvarezMarsal",
  "authorName": "Alvarez & Marsal",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.445,
  "pageNumber": 27,
  "pageCount": 42,
  "prevPage": 26,
  "nextPage": 28,
  "slideType": "situation_overview",
  "function": "establish_context",
  "density": "dense",
  "nDataPoints": 45,
  "notes": "Slide provides a snapshot of a company's financial health and debt profile.",
  "elementsJson": [
    "paragraph",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5ca1-7489-b633-dd0013a63889/27",
  "deckHref": "/decks/019dd923-5ca1-7489-b633-dd0013a63889",
  "deckJsonHref": "/decks/019dd923-5ca1-7489-b633-dd0013a63889.json",
  "deckAnchorHref": "/decks/019dd923-5ca1-7489-b633-dd0013a63889#slide-27",
  "components": [
    {
      "bbox": null,
      "kind": "metric",
      "text": "Net Debt / EBITDA: 9.6x",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd951-a674-768f-a07b-ff7bc12c3f6f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.42,
        "x": 0.06,
        "y": 0.18
      },
      "kind": "paragraph",
      "text": "Ithaca Energy Inc., together with its subsidiaries, engages in the exploration, development, and production of oil and gas in the North Sea.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6ed34448-b89f-4d35-a8ce-87628e5245c5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.42,
        "x": 0.51,
        "y": 0.18
      },
      "kind": "paragraph",
      "text": "- Apr 2016 - Reserve Based Lending (RBL) review completed... - May 2016 - 1Q'16 financial results down 53% y-o-y...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c0372b48-4ada-4a7a-af01-21eab1322cde",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.06,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "Source: Capital IQ, Debtwire, Company website",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "290cf761-0794-4e2d-b6b9-096727f51bec",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.42,
        "x": 0.51,
        "y": 0.5
      },
      "kind": "table",
      "text": "Financial Summary (EUR m) table showing Revenue, EBITDA, Net Income, and ratios",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0c36500e-b30b-4437-ad24-d66904872074",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.42,
        "x": 0.06,
        "y": 0.5
      },
      "kind": "table",
      "text": "Capital Structure (EUR m) table showing Debt, Out, Maturity, Coupon, Seniority",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9b181631-854a-4857-bc37-a56e4e2ece3d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.38,
        "x": 0.31,
        "y": 0.03
      },
      "kind": "title",
      "text": "K. ENERGY – ITHACA ENERGY INC.",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6f39ee2b-b5db-4271-80be-2d7631286ee1",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [
    {
      "metricRaw": "Net Debt / EBITDA",
      "numberRaw": "9.6x",
      "numberKind": "multiplier",
      "actionTitle": null,
      "calloutText": null,
      "numberScale": null,
      "numberValue": 9.6,
      "metricFamily": "margin_return",
      "numberCurrency": null
    }
  ],
  "tools": [
    {
      "name": "Audience Definition",
      "slug": "audience-definition",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "204639ea-b5a9-4334-8935-cd5634dbe3a4",
      "evidence": "The slide provides an overview of Ithaca Energy Inc., indicating an audience familiar with the company or the energy sector.",
      "confidence": 0.7
    },
    {
      "name": "Executive summary",
      "slug": "executive-summary",
      "agent": null,
      "layer": "slide",
      "matchId": "d83f9cbf-fc46-4947-ab4a-fa526ef9bc2f",
      "evidence": "The slide presents a brief summary of key points about Ithaca Energy Inc., including financial metrics.",
      "confidence": 0.7
    },
    {
      "name": "Gestalt Principles",
      "slug": "gestalt-principles",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "019dd95a-1055-74e0-a962-726d57862dba",
      "evidence": "Same 4-quadrant case-study template.",
      "confidence": 82
    },
    {
      "name": "Law of Proximity",
      "slug": "law-of-proximity",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "019dd95a-1055-74e0-a962-75143dfe6fc6",
      "evidence": "Quadrant grouping repeats template.",
      "confidence": 78
    },
    {
      "name": "Visual Hierarchy",
      "slug": "visual-hierarchy",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "019dd95a-1055-74e0-a962-794796ead6bb",
      "evidence": "Header bars > content.",
      "confidence": 75
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 39,
      "from": 17,
      "beatId": "019dd95a-0682-776c-8e36-7d201575a6df",
      "arcName": "The Onion",
      "arcSlug": "onion",
      "beatName": "Core Insight",
      "beatSlug": "onion-core-insight",
      "evidence": "23 issuer-level case studies on a uniform 4-quadrant template.",
      "position": 4,
      "confidence": 78,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    },
    {
      "to": 39,
      "from": 17,
      "beatId": "019dd95a-0682-776c-8e36-92975c768eca",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": "consultants-gambit-evidence-proof",
      "evidence": "Per-issuer dossiers with capital structure and situation.",
      "position": 4,
      "confidence": 55,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 39,
      "from": 16,
      "name": "Pattern Hunter",
      "slug": "02-pattern-hunter",
      "bestFor": "Time-pressed audiences, building consensus, when data is strong",
      "matchId": "019dd95a-07fe-70ce-8d3f-26e0d0a94f1a",
      "evidence": "Aggregate table (p16) followed by 23 same-template issuer cases reads as Evidence A, B, C → pattern.",
      "position": 3,
      "objective": "Stack 24 distressed-credit dossiers as cumulative evidence for the watch-list thesis.",
      "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
      "confidence": 84,
      "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}