The general approach of bankers to stress in large assets has been one of avoiding the de jure recognition of non-performance of such accounts. This is why we have a history of a large number of cases of failed restructuring as the schemes were used for avoiding a downgrade rather than resolving the asset.
(See Peneva and Rudd, 2015, for some suggestive evidence along these lines.) More generally, movements in labor costs no longer appear to be an especially good guide to future price movements.