This was well illustrated in late 1997, when Korea was within a couple of days of defaulting on government-guaranteed bank debt owed to foreign banks. Under the detailed orchestration of the US and IMF authorities, a deal was struck whereby $ billion of bank-to-bank debt was rolled over, at an attractive interest rate for creditors.
This deal changed sentiment towards Korea dramatically, and it would be hard for any creditor to claim that the outcome was anything except greatly beneficial to them.