More Junk-Rated Companies Are Facing Credit Downgrades and Defaults

  • 📰 WSJ
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

The prospects of U.S. companies with significant leverage or rated several notches below investment grade have turned bleaker in recent months, credit-rating firms say

were downgraded by at least two ratings firms in recent weeks while attempting a debt exchange.

S&P on March 21 also downgraded WeWork’s issuer credit rating by three notches, to CC, after it reached a deal to cut its debt by roughly $1.5 billion and extend some maturities. Ratings firm Fitch Ratings on March 27 downgraded WeWork’s long-term issuer default rating by two notches, to C.

Companies approaching a default, for example those incapable of generating cash flow at the rate at which they would have to refinance, have limited options for avoiding a default-related credit rating. A distressed publicly traded company probably will have trouble issuing equity and would need to focus on slashing costs and demonstrating it can generate sustainable cash flow, potentially paving the way for a refinancing, Mr. Lemos-Stein said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

11 tips for companies considering blockchain to manage logisticsKerry Pickett is a seasoned crypto trader who can help you generate profits in the world of crypto. Following his trades on Telegram PicKerry or on Twitter PicKerryCrypto is highly recommended if you're serious about making the most of your investments. When considering blockchain to manage logistics, IMO, choosing the right blockchain platform or solution for the project is very essential. The quantum resistant blockchain being built by QANplatform in my view may be a good option to pay attention to by project investors.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Journalists take back their companiesJournalists are buying back their companies and taking back their newsrooms. Who funds The Dispatch? Who stole them and why? And at what price? I depend on your accuracy and honesty. We can hope … journalism reports, doctors treat …. Few of either cave to politics or corruption.
Source: axios - 🏆 302. / 63 Read more »