New High Yield Bond Ratings December 7

By moneymakersmentor Last updated Dec 16, 2020

At least 20 companies received downgrades or revisions on high yield bond ratings during the week of December 7 – December 11, 2020. These downgrades caused S&P Global Ratings to issue a negative or watch negative outlook to all of the companies.

The Consumer Discretionary and Energy sectors led with the same number of downgrades during this week.

Source: S&P

Here is a snapshot of some downgrades throughout the week:

December 7

Shift4 Payments LLC, a payment processing company, received $600 million in senior unsecured notes, with plans to use the proceeds for corporate purposes and acquisitions.

S&P affirmed the company’s B issuer credit rating and posted a negative outlook reflecting the high leverage and unknown use of said proceeds.

Toll Road Investo…