Six new companies have either filed for Chapter 11 Bankruptcy or defaulted on loans during the week of June 22 – June 26, 2020. Credit issuers have lowered their credit ratings for all six of the companies. The majority of the corporations remain in the Consumer Discretionary sector. However, this was the first week with a downturn in the Healthcare sector since May.
Sources: S&P, Moody's
READ MORE: New Chapter 11 Filings and Disclosures: June 15 – June 19, 2020
AAC Holdings Inc., a company that provides inpatient substance abuse treatment services, filed for Chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the District of Delaware. Accordingly, S&P lowered the company’s credit rating to D.
Serta Simmons Bedding LLC. fi...