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:
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 …