At least three major companies have either filed for Chapter 11 bankruptcy protection or defaulted on loans during the week of February 8 – February 12, 2021. These filings and defaults caused credit issuers to lower ratings for one of the three companies.
Sources: Hartford Business, S&P, Bloomberg
February 8
Carla’s Pasta Inc. is a family-run business that specializes in the creation and distribution of frozen pastas and sauce. Carla’s Pasta filed for Chapter 11 bankruptcy after its sales significantly dropped due to restaurant closures. The company's debt liabilities range between $10 to $50 million, and 200 to 999 creditors.
February 9
U.S. casino operator Mashantucket Pequot Gaming Enterprise Inc. extended the maturity of its term loan. S&P views this as a distr...
