At least three major companies have either filed for Chapter 11 bankruptcy protection or defaulted on loans during the week of January 11 – January 15, 2021. These filings and defaults caused credit issuers to lower ratings for one out of the three companies. The Consumer Discretionary sector saw the majority of defaults for the second week in a row.
Sources: Moody's, Business Wire, Press Release
Ferrellgas Partners L.P. is an American supplier and distributor of propane. The company’s main operations reside in the Kansas City area. Ferrellgas filed for Chapter 11 bankruptcy protection, due to its weak liquidity. As a result, Moody’s downgraded the company’s credit rating to D.
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