英文名称：Distressed Debt 中文名称：不良债权指由于借款人已违约或非常有可能违约，导致可能无法收回的债务。e.g. (LEH) and UBS AG (UBS) - some of them carrying securities at higher values than 22 cents on the dollar - will have trouble ignoring the price fetched by Merrill's distressed debt investments.