The end of cheap borrowing is showing its true colors — and for Intrum it’s a deep shade of red as the Swedish debt collector faces its own credit crisis.

Following our deep dive into Altice last week, 9fin analyst Jennifer Munnings, distressed debt reporter Will Macadam and senior legal consultant Freddie Doust decipher the writing on the wall as Intrum mulls its restructuring options.

Their discussion covers the potential for the company to follow Altice’s lead on drop-downs, and the various ramifications if a restructuring happens in the Swedish, English or US courts.