A probabilistic model is applied to cross-sectional data to identify determinants of post-restructure performance of Federal Land Bank loans. The results indicate that restructured loans were sensitive to factors that determine the debt repayment burden and the repayment ability of the restructured farm operations. Loan performance is found to be relatively more sensitive to the levels of the post-restructure interest rate and cash farm income than to the financial structure and leverage position of the restructured farm. The relationships between the post-restructure interest rate, cash farm income level, and the probability of loan performance are illustrated.