"Bond Meltdown of $3 Billion Seen in NII Descent" $NIHD

Bloomberg:

"'The company is not likely to pay the Aug. 15 coupon and will continue its negotiations with bondholders the following month,' Stan Manoukian, the Agoura Hills, California-based founder of Independent Credit Research LLC, said in a telephone interview. 'They will likely file when they strike a deal with current creditors.'"

Gotta love the 30 day grace period.