At least 21 companies received a revision on high yield bond ratings during the week of February 22 – February 26, 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. Three companies received a positive or watch positive outlook.
The Industrials sector saw the most activity during this week.
Source: S&P, Moody’s
Here is a snapshot of some revisions throughout the week:
All Day Acquisitions Co LLC, also known as 24 Hour Fitness, exited bankruptcy with a $200 million senior secured loan. The company also secured a priority loan for $40 million due in 2022.
S&P assigned a CCC- issuer credit rating, as well as a CCC rating to the $200 million lo…