At least 13 companies received revisions on high yield bond ratings during the week of December 14 – December 18, 2020. These revisions caused S&P Global Ratings to issue a negative or watch negative outlook to most of the companies, while some received positive outlooks.
The Consumer Discretionary sector led the number of revisions during this week, with Healthcare not far behind.
Here is a snapshot of some revisions throughout the week:
Vail Resorts Inc. was placed on CreditWatch due to prolonged COVID-19 travel restrictions placing a strain on cashflow and increasing leverage through 2021. The company plans to acquire $500 million in unrated convertible senior unsecured notes due 2026.
S&P believes it may lower the company’s BB ra…