New High Yield Bond Ratings: March 15

At least 39 companies received a revision on high yield bond ratings during the week of March 15 – 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. Three companies received a 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:

March 15

Private equity juggernaut Blackstone bought Signal Parent Inc., a California-based interior design provider.

The acquisition includes $850 million in new debt. However, S&P believes Signal Parent will improve its leverage by midyear 2022 after said purchase, resulting in a B issuer credit rating and a stable …