At least 35 companies received a revision on high yield bond ratings during the week of April 5-9, 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. Five companies 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:
Carlson Travel Inc., a corporate travel management company, continued to lose cash-flow momentum despite its efforts to lower management costs.
S&P expects the company will not be able to meet minimum liquidity and EBITDA promises on its current revolving credit.
A CCC issuer credit rating was desig...