At least 18 companies received a revision on high yield bond ratings during the week of March 1-5, 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. No companies received positive or watch positive outlooks.
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:
MGM Resorts International, the global gaming operator, received a ratings downgrade from S&P due to the pandemic’s travel and entertainment restrictions. The company’s issuer credit rating was lowered from BB- to B+.
All ratings were removed from CreditWatch. However, a negative outlook was issued du…