Its shares fell by more than 40% after Carvana’s biggest creditors signed an agreement requiring them to work together to negotiate with the company. Meanwhile, MarketWatch reported Dec. 12 that Carvana bonds were rallying off their worst levels Friday but their deeply distressed status continued to reflect steep concerns about a potential bankruptcy. Agreements like the one among the some 10 Carvana creditors are intended to simplify negotiations on debt restructuring and new financing and to prevent creditor infighting during the process. It blamed high used-car prices and rising interest rates for dampening consumer demand. Last year, used-car prices got a lift from inflated new-car prices due to decreased inventories.