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Masonite International
Masonite International is a Missasauga, Ontario-based construction company with $2.27 billion of outstanding debt, according to its second quarter 2008 financial statements. The firm missed its interest payment on 17 October 2008, and failed to make the payment within the 30-day grace period, which ended on 14 November 2008. Having triggered a bankruptcy credit event under its loan-only credit default swaps, a credit settlement Lauction on 9 December 2008 determined CDS recoveries at 52.5%.
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