At least 27 companies received a revision on high yield bond ratings during the week of April 19 – 23, 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. One company 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:
Magenta Buyer LLC, also known as McAfee Enterprise, received a B3 corporate family rating and a B3-PD probability of default rating. The company’s two new credit facilities will be used to fund the McAfee purchase by private equity firm Symphony Technology Group.
Moody’s assigned a positive outlook following…