At least 25 companies received a revision on high yield bond ratings during the week of February 15 – February 19, 2021. These revisions caused S&P Global Ratings and Moody’s Investors Service to issue negative, watch negative, or stable outlooks to most of the companies. Two companies received a positive outlook.
The Consumer Discretionary sector saw the most activity during this week.
Source: S&P, Moody’s
Here is a snapshot of some revisions throughout the week:
Uber Technologies Inc., the San Francisco-based mobility provider, received a ratings upgrade from B- to B. The company’s secured debt rating was raised from B to B+ and unsecured debt raised from CCC+ to B-.
Uber will use proceeds from its term loan due in 2027 to repay debt due in 2023. …