Initial EDMC press reports a 10% increase the morning after the announcement, but quickly fell by 20% to 1.33 after the dust settled.
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Bloomberg News
Education Management Sees Enrollment Falling Through 2015
By John Lauerman August 29, 2014
CCI/COCO all over again. Time to deploy the life rafts.....
Stock tumbles as much as 23% http://www.bloomberg.com/news/2014-08-27/education-management-strikes-debt-for-equity-deal-with-creditors.html
Education Management Lenders Get Control in Debt Swap
http://www.businessweek.com/news/2014-08-27/education-management-strikes-debt-for-equity-deal-with-creditors