At least 16 companies received a revision on high yield bond ratings during the week of August 9-13, 2021. These revisions caused S&P Global Ratings and Moody’s Investor Services to issue stable outlooks to most of those companies. However, two companies received negative outlooks, and two more received positive outlooks.
The Consumer Discretionary category saw the most activity during this week.
Here is a snapshot of some revisions throughout the week:
Glass Mountain Pipeline, LLC received a downgrade from S&P after missing an interest payment on outstanding debt that was due on July 30, 2021. S&P considers this event a default, and as a result, downgraded Glass Mountain Pipeline’s issuer credit rating from CC to D. It also downgraded the company’s se...