Money Makers Mentor

New High Yield Bond Ratings

At least seven companies received high yield bond ratings downgrades or revisions during the week of July 13 – July 17, 2020. These downgrades caused S&P Global Ratings to issue a negative or watch negative outlook for four of the companies. The Consumer Discretionary sector saw the majority of downgrades during this week.

Sources: S&P, The Buttonwood Tree

July 14

Life Time Inc has been issued a negative outlook due to its lack of cash flow amid the nationwide mandated pandemic health and fitness facility closures. In order to sustain operations through 2021, the company secured a 364-day $101.5 million loan from its owners. Ratings have stabilized at CCC+.

July 15

Fitness International LLC, also known as “LA Fitness”, also received a negative outlook due to s…

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