New High Yield Bond Ratings September 28- October 2, 2020

At least 24 companies received downgrades or revisions on high yield bond ratings during the week of September 28 – October 2, 2020. These downgrades caused S&P Global Ratings to issue a negative or watch negative outlook to the companies. Consumer Discretionary saw the majority of downgrades during this week.

Source: S&P

Here is a snapshot of some downgrades throughout the week:

September 30

Six Flags Theme Parks Inc. is experiencing a slow return in attendance due to COVID-19 travel restrictions.

S&P lowered the company's issuer credit rating from B+ to B- and expects it to operate with cash through 2021. Six Flags' senior secured notes and senior secured credit facility were also downgraded from B to BB-.

Weak attendance levels are expected to linger unt...

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