At least four major companies have either filed for Chapter 11 bankruptcy protection or defaulted on loans during the week of March 2 – March 5, 2021. None of the four received ratings downgrades from Moody's or S&P.
Sources: WSJ, USA Today, CBS News, NBC News
Television streaming provider MobiTV filed for Chapter 11 bankruptcy protection. The California-based company has accumulated $75 million in debt. MobiTV is looking for a potential buyer, and hopes to exit bankruptcy by the second quarter of 2021.
The company’s CEO Charles Nooney, stressed that the company is not going out of business. “The Company has secured important bridge funding commitments which will allow MobiTV to continue business as usual operations during the pendency of the proceeding,” he s...