At least three major companies have either filed for Chapter 11 Bankruptcy or defaulted on loans during the week of September 28 – October 2, 2020. These filings and defaults caused credit issuers to lower ratings for one of the three companies.
Worth noting, the past few weeks has seen an increased amount of defaults within the Industrials sector.
Bouchard Transportation is the nation's largest privately-owned, ocean-going petroleum company. The 102-year-old barge operator headquartered on Long Island filed for Chapter 11 bankruptcy, in the U.S. Bankruptcy Court for the Southern District of Texas. The company plans to fund its Chapter 11 bankruptcy proceedings with debtor-in-possession financing. Bouchard has between 1,000 and 5,000...