At least 25 companies received a revision on high yield bond ratings during the week of March 8-12, 2021. These revisions caused S&P Global Ratings and Moody's Investors Service to issue negative, watch negative, or stable outlooks to most of the companies. One company received a positive outlook.
The Consumer Discretionary sector saw the most activity during this week.
Source: S&P, Moody's
Here is a snapshot of some revisions throughout the week:
Crocs Inc., the Colorado-based footwear company, is offering $300 million in unsecured notes in order to repay its $180 million debt, as well as to cover general expenses.
S&P assigned a BB- issuer credit rating due to the company's reliance on a single brand and lack of product diversity. It is believed t...