Key Takeaways
- Potential downgrades reached their all-time high of 1,287, above their previous record of 1087 during the 2009 subprime crisis and nearly double February's 649 issuers.
- Out of 550 new potential downgrades since April, 90% of the ratings were affected by economic and financial consequences of the COVID-19 pandemic--led by financial institutions, consumer products, and utilities sectors by issuer count--and join sectors with highest downgrade prospects like automotive, transportation, and media, entertainment, and lodging sectors.
- CreditWatch with negative implications placements are also elevated, indicative of a 50% chance of a downgrade in the near future, conditional on continued deleterious credit conditions.
Chart 1
The number of potential downgrades (defined as issuers rated 'AAA' to 'B-' by S&P Global Ratings with either negative rating outlooks or ratings on CreditWatch with negative implications) has widened to 1,287 as of April 28, from 860 in March and 649 in February. The tally has surpassed even the highest mark recorded in April 2009 during subprime crisis at 1,028 (see chart 2). We have added 550 issuers to the list since our last report in March, which includes 490 issuers facing direct economic fallout from the pandemic, mostly from financial institutions, consumer products, and utilities (see chart 1). On the other hand, we have removed 123 issuers, of which 110 were downgraded. Since last month, the ratings of 247 issuers from the list were lowered, of which 134 continue to be part of the list. About 64% of the potential downgrades show risk exposure from COVID-19 related containment measures to their operations (see chart 6).
Further, the gap between potential downgrades and upgrades widened after upgrades dropped to a record low of 124, with 117 removals and only one addition, Hungarian fertilizer producer Nitrogenmuvek Zrt., in April. Generally, we expect heavy credit erosion in coming months as issuers, especially those in the lower-rated spectrum come under heavy fire from poor earnings, continued difficulties in managing cost structures, and market volatility creating limited funding opportunities.
Chart 2
Downgrade Potential Likely To Continue To Escalate
The first quarter, and especially March, has seen an increase in the number of downgrades to 492, the second-highest level since first quarter 2009 (533). By April 28, the number of downgrades in the second quarter stood at 415, and the share of potential fallen angels on CreditWatch negative points to a new record high in the second quarter. A rating with negative CreditWatch implications carries a more immediate timeline for potential downgrade--90 days--compared to two years for a negative outlook. Though the pace of downgrades has slowed in recent weeks, we will likely resolve many CreditWatch placements as downgrades, and the CreditWatch-driven negative bias has hit an all-time high of 7.9%, above the previous record during the subprime crisis (see chart 3). This reflects a 50% likelihood of downgrades in the near term.
Chart 3
Issuers are placed on CreditWatch negative when there is an event or a deviation from an expected trend or material change in the performance of the issuers but its magnitude is not yet determined, or there is a change in rating criteria. This may not necessarily lead to a downgrade, but the tighter timeline indicates a high likelihood that a rating action in the direction of the CreditWatch will follow (see "General Criteria: Use Of CreditWatch And Outlooks," Sept. 14, 2009). A comparison of the negative CreditWatch bias in crisis periods (i.e., months with more than 80 downgrades) shows that whenever the bias rises, a rise in downgrades follows (see Chart 4a), as we see the dots align with the trend line when the bias moves beyond 2.5%. The rating outlook carries a longer-term view of two years, reducing the likelihood of an actual downgrade as there is more time for the issuer's environment and financing structure to evolve positively. Therefore, a negative rating outlook less often leads to downgrades (see Chart 4b), as we see dots following different paths after the bias crosses 20%.
Placements on CreditWatch negative are a better determinant of rising downgrades during crisis due to their shorter time horizon
Chart 4a
Chart 4b
Media and entertainment, automotive, and transportation have the highest proportion of issuers on CreditWatch with negative implications. This points to their heightened downgrade risk in the near-term. Crucially, within the sector of media and entertainment, it is companies in leisure, lodging, and entertainment that have the highest share of issuers on CreditWatch negative as a share of total potential downgrades, with 74% compared to 35% for other companies in media and entertainment, 49% in automotive, and 43% in transportation. The elevated downgrade risk in the short term is notably due to the high business exposure to restrictions stemming from the spread of COVID-19.
Chart 5
Downgrade Pressure Highest In Sectors Most Exposed To Restrictions Due To COVID-19
Automotive, consumer products, transportation, and media and entertainment have the highest proportion of issuers affected by COVID-related disruptions. Again, it is mainly companies in leisure, lodging, and entertainment that drive the number for media and entertainment.
Chart 6
With their businesses highly impacted by social distancing measures and travel bans, companies in tourism as well as gaming and leisure are subject to high downgrade pressures. Many airlines and transport firms were grounded during the lockdown phase due to low demand, putting their liquidity, reserves, and financial flexibility at test. Likewise, global automakers and suppliers are under intense credit pressures, due to a huge drop in revenues as auto sales plunged. Among consumer products, consumer durables face heightened credit risks while consumer staples are better placed. The cost-cutting done in the last downturn made their operations leaner, but it is difficult to repeat such an exercise in response to COVID-19. Firms rated 'B-' and below face high refinancing and default risks (see "Coronavirus Dramatically Increases Consumer Products Risk, But Staples Benefit," April 7, 2020).
Financial institutions added 78 issuers this month, 22 of which were from the U.S., eight were from the U.K., and seven were from France. Despite strengthened balance sheets and unprecedented support by central banks and governments, the credit rating outlook for financial institutions becomes somewhat dimmer. This is especially the case for those that are heavily exposed to sectors whose activity is depressed due to the spread of COVID-19. The longer lasting economic downturn as well as banks' low profitability are further downside risks ("How COVID-19 Is Affecting Bank Ratings: May 2020 Update," May 7, 2020). However, the outlook on financials is still relatively resilient, with only 9 of the 139 potential downgrades on CreditWatch negative.
Chart 7
Table 1
| 110 Of 123 Issuers Removed From The List This Month Have Faced A Downgrade | ||||||||
|---|---|---|---|---|---|---|---|---|
| Potential Bond Downgrade Removals | Potential Bond Downgrade Additions | |||||||
| Reason For Removal | Issuer Count | Reason For Addition | Issuer Count | |||||
| Downgraded | 63 | OLCW Change | 404 | |||||
| Downgraded and OLCW Change | 47 | Downgraded and OLCW Change | 137 | |||||
| Parent | 6 | Newly Rated Issuer | 5 | |||||
| Ratings Withdrawn | 3 | Parent | 3 | |||||
| Default | 2 | Newly Rated Debt | 1 | |||||
| OLCW Change | 1 | Downgraded | 0 | |||||
| Selective Default (SD) | 1 | Upgraded | 0 | |||||
| No Outstanding Debt | 0 | Upgraded and OLCW Change | 0 | |||||
| Upgraded | 0 | |||||||
| Upgraded and OLCW Change | 0 | |||||||
| Total | 123 | Total | 550 | |||||
| Note: Includes issuers removed due to subsidiary relationship with a parent company, which now qualifies as potential downgrade. OLCW--Outlook/CreditWatch. Data as of April 28, 2020. Source: S&P Global Ratings Research. | ||||||||
Table 2
| Almost All Sectors Except Insurance Have Higher Current Downgrade Potentials Than Their Long-Term Average | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sector | Trailing-12-month downgrade count | Trailing-12-month downgrade ratio (%) | Current negative bias (%) | Historical average negative bias (%) | Gap between current and historical average negative bias (%) | Negative bias contribution to total potential bond downgrade portfolio (%) | ||||||||
| Automotive | 59.0 | 98.3 | 76.7 | 25.6 | (51.1) | 5.5 | ||||||||
| Oil and gas | 162.0 | 90.5 | 69.4 | 19.5 | (50.0) | 5.8 | ||||||||
| Media and entertainment | 184.0 | 91.5 | 61.3 | 25.9 | (35.4) | 13.6 | ||||||||
| Retail and restaurants | 97.0 | 87.4 | 54.8 | 24.7 | (30.1) | 4.6 | ||||||||
| Transportation | 58.0 | 90.6 | 50.4 | 21.1 | (29.3) | 3.8 | ||||||||
| Aerospace and defense | 27.0 | 79.4 | 43.5 | 20.6 | (22.9) | 2.1 | ||||||||
| Consumer products | 168.0 | 92.8 | 45.4 | 24.5 | (20.9) | 10.5 | ||||||||
| Chemicals, packaging, and environmental services | 80.0 | 86.0 | 39.6 | 18.9 | (20.7) | 5.1 | ||||||||
| Health care | 76.0 | 86.4 | 37.4 | 17.6 | (19.8) | 5.5 | ||||||||
| Capital goods | 94.0 | 89.5 | 40.8 | 21.4 | (19.5) | 4.1 | ||||||||
| Forest products and building materials | 26.0 | 89.7 | 32.6 | 22.2 | (10.4) | 3.0 | ||||||||
| Homebuilders and real estate companies | 32.0 | 68.1 | 23.8 | 15.5 | (8.4) | 4.4 | ||||||||
| Utilities | 86.0 | 68.8 | 27.6 | 20.2 | (7.4) | 9.9 | ||||||||
| Financial institutions | 70.0 | 66.0 | 26.9 | 19.9 | (7.0) | 10.8 | ||||||||
| Diversified | 0.0 | 0.0 | 25.0 | 18.2 | (6.8) | 0.4 | ||||||||
| Sovereign | 26.0 | 60.5 | 19.8 | 14.3 | (5.6) | 1.3 | ||||||||
| Metals, mining, and steel | 45.0 | 86.5 | 27.7 | 24.6 | (3.1) | 2.2 | ||||||||
| Telecommunications | 50.0 | 82.0 | 21.6 | 20.3 | (1.4) | 1.7 | ||||||||
| High technology | 58.0 | 70.7 | 22.1 | 21.4 | (0.7) | 3.6 | ||||||||
| Insurance | 11.0 | 37.9 | 13.1 | 16.7 | 3.6 | 2.1 | ||||||||
| Data as of April 28, 2020. Source: S&P Global Ratings Research. | ||||||||||||||
We monitor potential downgrades because they are the most likely to be downgraded in the short to medium term, and their aggregate number indicates the direction of potential rating changes. Timely and ongoing surveillance of issuers at risk of being downgraded can be valuable to investors in their sector credit-allocation process, as well as in hedging against potential capital losses arising from a downgrade. For unabridged analysis of potential downgrades, please refer to our most recent quarterly report, "Leisure, Media, And Consumer Products Have The Highest Downgrade Potential," published Feb. 4, 2020.
Table 3
| Issuers on CreditWatch/Outlook Negative ('AAA' Through 'B-' Ratings) | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ratings combination | Issuer | Parent company | Sector/subsector | New to the list this month | OLCW change | Country | ||||||||
| AAA/Negative |
Airservices Australia |
Utilities | Yes | Australia | ||||||||||
| AAA/Negative |
Australia |
Sovereign | Yes | Australia | ||||||||||
| AA/Negative |
Chevron Corp. |
Oil and gas | U.S. | |||||||||||
| AA/Negative |
Exxon Mobil Corp. |
Oil and gas | U.S. | |||||||||||
| AA/Negative |
Sanofi |
Health care | France | |||||||||||
| AA-/Watch Neg |
Central Japan Railway Co. |
Utilities | Yes | Japan | ||||||||||
| AA-/Watch Neg |
Denso Corp. |
Automotive | Yes | Japan | ||||||||||
| AA-/Watch Neg |
East Japan Railway Co. |
Utilities | Yes | Japan | ||||||||||
| AA-/Watch Neg |
Flughafen Zurich AG |
Utilities | Yes | Switzerland | ||||||||||
| AA-/Watch Neg |
Merck & Co. Inc. |
Health care | U.S. | |||||||||||
| AA-/Watch Neg |
Pfizer Inc. |
Health care | U.S. | |||||||||||
| AA-/Watch Neg |
Toyota Industries Corp. |
Automotive | Yes | Japan | ||||||||||
| AA-/Watch Neg |
Toyota Motor Corp. |
Automotive | Yes | Japan | ||||||||||
| AA-/Negative |
Australia and New Zealand Banking Group Ltd. |
Financial institutions | Yes | Australia | ||||||||||
| AA-/Negative |
Commonwealth Bank of Australia |
Financial institutions | Yes | Australia | ||||||||||
| AA-/Negative |
DZ BANK AG Deutsche Zentral-Genossenschaftsbank |
Cooperative Banking Sector Germany |
Financial institutions | Germany | ||||||||||
| AA-/Negative |
Deutsche Apotheker- und Aerztebank eG |
Cooperative Banking Sector Germany |
Financial institutions | Germany | ||||||||||
| AA-/Negative |
Equinor ASA |
Oil and gas | Norway | |||||||||||
| AA-/Negative |
First Abu Dhabi Bank P.J.S.C. |
Financial institutions | Yes | U.A.E. | ||||||||||
| AA-/Negative |
Japan Tobacco Inc. |
Consumer products | Japan | |||||||||||
| AA-/Negative |
National Australia Bank Ltd. |
Financial institutions | Yes | Australia | ||||||||||
| AA-/Negative |
Royal Dutch Shell PLC |
Oil and gas | U.K. | |||||||||||
| AA-/Negative |
Westpac Banking Corp. |
Financial institutions | Yes | Australia | ||||||||||
| A+/Watch Neg |
Airbus SE |
Aerospace and defense | Yes | Netherlands | ||||||||||
| A+/Watch Neg |
Aisin Seiki Co. Ltd. |
Automotive | Yes | Japan | ||||||||||
| A+/Watch Neg |
Narita International Airport Corp. |
Utilities | Yes | Japan | ||||||||||
| A+/Watch Neg |
Royal Schiphol Group N.V. |
Utilities | Yes | Netherlands | ||||||||||
| A+/Watch Neg |
Toyota Tsusho Corp. |
Diversified | Yes | Japan | ||||||||||
| A+/Negative |
3M Co. |
Capital goods | U.S. | |||||||||||
| A+/Negative |
Avinor AS |
Utilities | Yes | Norway | ||||||||||
| A+/Negative |
BNP Paribas |
Financial institutions | Yes | France | ||||||||||
| A+/Negative |
BPCE |
Financial institutions | Yes | France | ||||||||||
| A+/Negative |
Banco del Estado de Chile |
Financial institutions | Yes | Chile | ||||||||||
| A+/Negative |
China Southern Power Grid Co. Ltd. |
Utilities | China | |||||||||||
| A+/Negative |
The Coca-Cola Co. |
Consumer products | Yes | U.S. | ||||||||||
| A+/Negative |
Cooperatieve Rabobank U.A. |
Financial institutions | Yes | Netherlands | ||||||||||
| A+/Negative |
Credit Agricole S.A. |
Financial institutions | Yes | France | ||||||||||
| A+/Negative |
DekaBank Deutsche Girozentrale |
Deutsche Sparkassen und Giroverband e.V. | Financial institutions | Germany | ||||||||||
| A+/Negative |
Eli Lilly & Co. |
Health care | U.S. | |||||||||||
| A+/Negative |
Empresa de Transporte de Pasajeros Metro S.A. |
Utilities | Yes | Chile | ||||||||||
| A+/Negative |
The Estee Lauder Cos. Inc. |
Consumer products | Yes | U.S. | ||||||||||
| A+/Negative |
Franklin Resources Inc. |
Financial institutions | U.S. | |||||||||||
| A+/Negative |
Jackson National Life Insurance Co. |
Prudential PLC |
Insurance | U.S. | ||||||||||
| A+/Negative |
Macquarie Bank Ltd. |
Macquarie Group Ltd. |
Financial institutions | Yes | Australia | |||||||||
| A+/Negative |
NATS (En Route) PLC |
Transportation | U.K. | |||||||||||
| A+/Negative |
Oracle Corp. |
High technology | U.S. | |||||||||||
| A+/Negative |
Chile |
Sovereign | Yes | Chile | ||||||||||
| A+/Negative |
Robert Bosch GmbH |
Automotive | Germany | |||||||||||
| A+/Negative |
Total S.A. |
Oil and gas | France | |||||||||||
| A/Watch Neg |
BASF SE |
Chemicals, packaging, and environmental services | Germany | |||||||||||
| A/Watch Neg |
General Dynamics Corp. |
Aerospace and defense | U.S. | |||||||||||
| A/Watch Neg |
Honda Motor Co. Ltd. |
Automotive | Japan | |||||||||||
| A/Watch Neg |
London Stock Exchange Group PLC |
Financial institutions | U.K. | |||||||||||
| A/Watch Neg |
daa PLC |
Utilities | Yes | Ireland | ||||||||||
| A/Negative |
ABB Ltd. |
Capital goods | Switzerland | |||||||||||
| A/Negative |
ABN AMRO Bank N.V. |
Financial institutions | Yes | Netherlands | ||||||||||
| A/Negative |
Abu Dhabi Commercial Bank PJSC |
Financial institutions | Yes | U.A.E. | ||||||||||
| A/Negative |
Aeroports de Paris |
Utilities | France | |||||||||||
| A/Negative |
Ameriprise Financial Inc. |
Insurance | U.S. | |||||||||||
| A/Negative |
Apollo Global Management Inc. |
Financial institutions | U.S. | |||||||||||
| A/Negative |
Autoridad del Canal de Panama |
Utilities | Yes | Panama | ||||||||||
| A/Negative |
BMW AG |
Automotive | Germany | |||||||||||
| A/Negative |
Banco Santander-Chile S.A. |
Banco Santander S.A. |
Financial institutions | Yes | Chile | |||||||||
| A/Negative |
Banco de Credito e Inversiones |
Financial institutions | Yes | Chile | ||||||||||
| A/Negative |
Caisse Centrale du Credit Mutuel |
Financial institutions | Yes | France | ||||||||||
| A/Negative |
Chiba Bank Ltd. |
Financial institutions | Japan | |||||||||||
| A/Negative |
Compass Group PLC |
Consumer products | U.K. | |||||||||||
| A/Negative |
ConocoPhillips |
Oil and gas | Yes | U.S. | ||||||||||
| A/Negative |
Corporacion Nacional del Cobre de Chile |
Metals, mining, and steel | Chile | |||||||||||
| A/Negative |
Dongfeng Motor Group Co. Ltd. |
Dongfeng Motor Corp. |
Automotive | China | ||||||||||
| A/Negative |
Ras Al Khaimah (Emirate of) |
Sovereign | Yes | U.A.E. | ||||||||||
| A/Negative |
HSBC Holdings PLC |
Financial institutions | U.K. | |||||||||||
| A/Negative |
International Business Machines Corp. |
High technology | U.S. | |||||||||||
| A/Negative |
Landesbank Hessen-Thueringen Girozentrale |
Deutsche Sparkassen und Giroverband e.V. | Financial institutions | Yes | Germany | |||||||||
| A/Negative |
Proximus S.A. |
Telecommunications | Yes | Belgium | ||||||||||
| A/Negative |
Qatar Insurance Co. S.A.Q. |
Insurance | Qatar | |||||||||||
| A/Negative |
Scentre Group |
Homebuilders/real estate companies | Yes | Australia | ||||||||||
| A/Negative |
Schlumberger Ltd. |
Oil and gas | Curacao | |||||||||||
| A/Negative |
Shanghai Electric (Group) Corp. |
Capital goods | China | |||||||||||
| A/Negative |
Simon Property Group Inc. |
Homebuilders/real estate companies | Yes | U.S. | ||||||||||
| A/Negative |
Stanley Black & Decker Inc. |
Forest products and building materials | Yes | U.S. | ||||||||||
| A/Negative |
TJX Cos. Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| A/Negative |
The Hong Kong and China Gas Co. Ltd. |
Utilities | Yes | Hong Kong | ||||||||||
| A/Negative |
United Parcel Service Inc. |
Transportation | U.S. | |||||||||||
| A/Negative |
VF Corp. |
Consumer products | Yes | U.S. | ||||||||||
| A/Negative |
Vicinity Centres |
Homebuilders/real estate companies | Yes | Australia | ||||||||||
| A-/Watch Neg |
AbbVie Inc. |
Health care | U.S. | |||||||||||
| A-/Watch Neg |
Anheuser-Busch InBev S.A./N.V. |
Consumer products | Yes | Belgium | ||||||||||
| A-/Watch Neg |
Auckland International Airport Ltd. |
Utilities | New Zealand | |||||||||||
| A-/Watch Neg |
Australia Pacific Airports Corp. Ltd. |
Utilities | Australia | |||||||||||
| A-/Watch Neg |
Christchurch International Airport Ltd. |
Utilities | New Zealand | |||||||||||
| A-/Watch Neg |
Electricite de France S.A. |
Utilities | Yes | France | ||||||||||
| A-/Watch Neg |
Magna International Inc. |
Automotive | Yes | Canada | ||||||||||
| A-/Watch Neg |
RCS Trust |
Homebuilders/real estate companies | Singapore | |||||||||||
| A-/Watch Neg |
Ralph Lauren Corp. |
Consumer products | Yes | U.S. | ||||||||||
| A-/Watch Neg |
Rikshem AB |
Homebuilders/real estate companies | Yes | Sweden | ||||||||||
| A-/Watch Neg |
Sociedad Concesionaria Autopista Central S.A. |
Utilities | Yes | Chile | ||||||||||
| A-/Watch Neg |
UNIQA Insurance Group AG |
Insurance | Austria | |||||||||||
| A-/Watch Neg |
Walt Disney Co. (The) |
Media and entertainment | Yes | U.S. | ||||||||||
| A-/Negative |
AmerisourceBergen Corp. |
Consumer products | U.S. | |||||||||||
| A-/Negative |
Arch Capital Group Ltd. |
Insurance | Yes | Bermuda | ||||||||||
| A-/Negative |
Argenta Spaarbank N.V. |
Financial institutions | Yes | Belgium | ||||||||||
| A-/Negative |
Australian Prime Property Fund Retail |
Homebuilders/real estate companies | Australia | |||||||||||
| A-/Negative |
BOC Aviation Ltd. |
Bank of China Ltd. |
Transportation | Yes | Singapore | |||||||||
| A-/Negative |
Baker Hughes Co. |
Oil and gas | U.S. | |||||||||||
| A-/Negative |
Banco Bilbao Vizcaya Argentaria S.A. |
Financial institutions | Spain | |||||||||||
| A-/Negative |
Booking Holdings Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| A-/Negative |
Boston Properties Inc. |
Homebuilders/real estate companies | U.S. | |||||||||||
| A-/Negative |
CEZ a.s. |
Utilities | Yes | Czech Republic | ||||||||||
| A-/Negative |
Cboe Global Markets |
Financial institutions | U.S. | |||||||||||
| A-/Negative |
Cembra Money Bank AG |
Financial institutions | Switzerland | |||||||||||
| A-/Negative |
China National Travel Service Group Corp. Ltd. |
Media and entertainment | Yes | China | ||||||||||
| A-/Negative |
Cigna Corp. |
Financial institutions | U.S. | |||||||||||
| A-/Negative |
Cullen/Frost Bankers Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| A-/Negative |
DEPFA Bank PLC |
FMS Wertmanagement Anstalt des oeffentlichen Rechts |
Financial institutions | Ireland | ||||||||||
| A-/Negative |
Deutsche Pfandbriefbank AG |
Financial institutions | Germany | |||||||||||
| A-/Negative |
Deutsche Wohnen SE |
Homebuilders/real estate companies | Germany | |||||||||||
| A-/Negative |
Doctors Co. an Interinsurance Exchange |
Insurance | U.S. | |||||||||||
| A-/Negative |
EOG Resources Inc. |
Oil and gas | U.S. | |||||||||||
| A-/Negative |
Eni SpA |
Oil and gas | Italy | |||||||||||
| A-/Negative |
Enterprise Holdings Inc. |
Transportation | Yes | U.S. | ||||||||||
| A-/Negative |
Fomento Economico Mexicano S. A. B. de C. V. |
Retail/restaurants | Yes | Mexico | ||||||||||
| A-/Negative |
Formosa Plastics Corp. |
Chemicals, packaging, and environmental services | Taiwan | |||||||||||
| A-/Negative |
Fortis Inc. |
Utilities | Canada | |||||||||||
| A-/Negative |
Harman International Industries Inc. |
Samsung Electronics Co. Ltd. |
Automotive | Yes | U.S. | |||||||||
| A-/Negative |
ING Groep N.V. |
Financial institutions | Yes | Netherlands | ||||||||||
| A-/Negative |
KBC Group N.V. |
Financial institutions | Yes | Belgium | ||||||||||
| A-/Negative |
Klepierre S.A. |
Homebuilders/real estate companies | Yes | France | ||||||||||
| A-/Negative |
LQ Inversiones Financieras S.A. |
Financial institutions | Yes | Chile | ||||||||||
| A-/Negative |
Marsh & McLennan Cos. |
Insurance | U.S. | |||||||||||
| A-/Negative |
Mashreqbank |
Financial institutions | Yes | U.A.E. | ||||||||||
| A-/Negative |
ORIX Corp. |
Financial institutions | Japan | |||||||||||
| A-/Negative |
Panasonic Corp. |
High technology | Japan | |||||||||||
| A-/Negative |
Principal Financial Group Inc. |
Insurance | Yes | U.S. | ||||||||||
| A-/Negative |
QIC Shopping Centre Fund |
Homebuilders/real estate companies | Yes | Australia | ||||||||||
| A-/Negative |
Reckitt Benckiser Group PLC |
Consumer products | U.K. | |||||||||||
| A-/Negative |
S.F. Holding Co. Ltd. |
Transportation | China | |||||||||||
| A-/Negative |
SK Telecom Co. Ltd. |
Telecommunications | Korea, Republic of | |||||||||||
| A-/Negative |
Saudi Electric Co. |
Saudi Arabia |
Utilities | Saudi Arabia | ||||||||||
| A-/Negative |
Sharjah Islamic Bank |
Financial institutions | Yes | U.A.E. | ||||||||||
| A-/Negative |
Sika AG |
Chemicals, packaging, and environmental services | Yes | Switzerland | ||||||||||
| A-/Negative |
Sociedad Concesionaria Autovia de la Plata S.A. |
Utilities | Spain | |||||||||||
| A-/Negative |
Sodexo S.A. |
Consumer products | France | |||||||||||
| A-/Negative |
Sogecap S.A. |
Societe Generale |
Insurance | Yes | France | |||||||||
| A-/Negative |
Southern Co. |
Utilities | U.S. | |||||||||||
| A-/Negative |
Stryker Corp. |
Health care | Yes | U.S. | ||||||||||
| A-/Negative |
Thales S.A. |
Aerospace and defense | France | |||||||||||
| A-/Negative |
Unibail-Rodamco-Westfield SE |
Homebuilders/real estate companies | France | |||||||||||
| A-/Negative |
Wells Fargo & Co. |
Financial institutions | U.S. | |||||||||||
| A-/Negative |
Yorkshire Water Services Finance Ltd. |
Kelda Group Ltd. |
Utilities | U.K. | ||||||||||
| BBB+/Watch Neg |
Beijing Automotive Group Co. Ltd. |
Automotive | Yes | China | ||||||||||
| BBB+/Watch Neg |
Borealis AG |
Chemicals, packaging, and environmental services | Austria | |||||||||||
| BBB+/Watch Neg |
BorgWarner Inc. |
Automotive | U.S. | |||||||||||
| BBB+/Watch Neg |
DuPont de Nemours Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| BBB+/Watch Neg |
ENN Energy Holdings Ltd. |
ENN Investment Holdings Co. Ltd. |
Utilities | Cayman Islands | ||||||||||
| BBB+/Watch Neg |
Finning International Inc. |
Capital goods | Yes | Canada | ||||||||||
| BBB+/Watch Neg |
Hyundai Motor Co. |
Automotive | Yes | Korea, Republic of | ||||||||||
| BBB+/Watch Neg |
JFK Internationatl Air Terminal LLC |
Utilities | U.S. | |||||||||||
| BBB+/Watch Neg |
Millennium Parking Garages LLC |
Utilities | U.S. | |||||||||||
| BBB+/Watch Neg |
Nissan Motor Co. Ltd. |
Automotive | Yes | Japan | ||||||||||
| BBB+/Watch Neg |
Northumbrian Water Ltd. |
CK Hutchison Holdings Ltd. |
Utilities | U.K. | ||||||||||
| BBB+/Watch Neg |
Southern Cross Airports Corp. Holdings Ltd. |
Utilities | Australia | |||||||||||
| BBB+/Watch Neg |
Wellington International Airport Ltd. |
Utilities | New Zealand | |||||||||||
| BBB+/Negative |
ALD S.A. |
Societe Generale |
Financial institutions | Yes | France | |||||||||
| BBB+/Negative |
AMP Ltd. |
Insurance | Australia | |||||||||||
| BBB+/Negative |
America Movil S.A.B. de C.V. |
Telecommunications | Mexico | |||||||||||
| BBB+/Negative |
Aozora Bank Ltd. |
Financial institutions | Japan | |||||||||||
| BBB+/Negative |
Autoliv Inc. |
Automotive | U.S. | |||||||||||
| BBB+/Negative |
BOK Financial Corp. |
Financial institutions | Yes | U.S. | ||||||||||
| BBB+/Negative |
Banco General S.A. |
Financial institutions | Yes | Panama | ||||||||||
| BBB+/Negative |
Bankinter S.A. |
Financial institutions | Spain | |||||||||||
| BBB+/Negative |
Bertelsmann SE & Co. KGaA |
Media and entertainment | Yes | Germany | ||||||||||
| BBB+/Negative |
Caltex Australia Ltd. |
Oil and gas | Australia | |||||||||||
| BBB+/Negative |
CenterPoint Energy Inc. |
Utilities | Yes | U.S. | ||||||||||
| BBB+/Negative |
Coca-Cola Femsa S.A.B. de C.V. |
Consumer products | Mexico | |||||||||||
| BBB+/Negative |
Comerica Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| BBB+/Negative |
Commerzbank AG |
Financial institutions | Germany | |||||||||||
| BBB+/Negative |
Corning Inc. |
High technology | U.S. | |||||||||||
| BBB+/Negative |
DTE Energy Center LLC |
Utilities | U.S. | |||||||||||
| BBB+/Negative |
Daimler AG |
Automotive | Germany | |||||||||||
| BBB+/Negative |
Deutsche Bank AG |
Financial institutions | Yes | Germany | ||||||||||
| BBB+/Negative |
GPT Wholesale Shopping Centre Fund |
Homebuilders/real estate companies | Yes | Australia | ||||||||||
| BBB+/Negative |
General Electric Co. |
Capital goods | Yes | U.S. | ||||||||||
| BBB+/Negative |
Genting Bhd. |
Media and entertainment | Malaysia | |||||||||||
| BBB+/Negative |
Genworth MI Canada Inc. |
Genworth Financial Inc. |
Financial institutions | Yes | Canada | |||||||||
| BBB+/Negative |
Goodman European Partnership |
Homebuilders/real estate companies | Luxembourg | |||||||||||
| BBB+/Negative |
Grenke AG |
Financial institutions | Yes | Germany | ||||||||||
| BBB+/Negative |
Grupo Televisa S.A.B. |
Media and entertainment | Yes | Mexico | ||||||||||
| BBB+/Negative |
Halliburton Co. |
Oil and gas | U.S. | |||||||||||
| BBB+/Negative |
Heineken N.V. |
Consumer products | Yes | Netherlands | ||||||||||
| BBB+/Negative |
Helmerich & Payne Inc. |
Oil and gas | Yes | U.S. | ||||||||||
| BBB+/Negative |
Ignitis Group UAB |
Utilities | Lithuania | |||||||||||
| BBB+/Negative |
Jones Lang LaSalle Inc. |
Financial institutions | U.S. | |||||||||||
| BBB+/Negative |
Kimberly-Clark de Mexico S.A.B. de C.V. |
Consumer products | Mexico | |||||||||||
| BBB+/Negative |
Lloyds Banking Group PLC |
Financial institutions | Yes | U.K. | ||||||||||
| BBB+/Negative |
MDU Resources Group Inc. |
Utilities | Yes | U.S. | ||||||||||
| BBB+/Negative |
McDonald's Corp. |
Retail/restaurants | U.S. | |||||||||||
| BBB+/Negative |
NIBC Bank N.V. |
Financial institutions | Yes | Netherlands | ||||||||||
| BBB+/Negative |
National Oilwell Varco Inc. |
Oil and gas | Yes | U.S. | ||||||||||
| BBB+/Negative |
PPG Industries Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| BBB+/Negative |
PSA Banque France |
Banco Santander S.A. |
Financial institutions | Yes | France | |||||||||
| BBB+/Negative |
PTT Global Chemical Public Co. Ltd. |
PTT Public Co. Ltd. |
Chemicals, packaging, and environmental services | Yes | Thailand | |||||||||
| BBB+/Negative |
Parker-Hannifin Corp. |
Capital goods | U.S. | |||||||||||
| BBB+/Negative |
People's United Financial Inc. |
Financial institutions | U.S. | |||||||||||
| BBB+/Negative |
RLI Corp. |
Insurance | U.S. | |||||||||||
| BBB+/Negative |
Panama |
Sovereign | Yes | Panama | ||||||||||
| BBB+/Negative |
Ross Stores Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| BBB+/Negative |
Sempra Energy |
Utilities | U.S. | |||||||||||
| BBB+/Negative |
Southwest Gas Holdings Inc. |
Utilities | U.S. | |||||||||||
| BBB+/Negative |
Takeda Pharmaceutical Co. Ltd. |
Health care | Japan | |||||||||||
| BBB+/Negative |
TechnipFMC Plc |
Oil and gas | Yes | U.K. | ||||||||||
| BBB+/Negative |
Telus Corp. |
Telecommunications | Canada | |||||||||||
| BBB+/Negative |
Terna SpA |
Utilities | Italy | |||||||||||
| BBB+/Negative |
Thai Oil Public Co. Ltd. |
PTT Public Co. Ltd. |
Oil and gas | Yes | Thailand | |||||||||
| BBB+/Negative |
UniCredit Bank AG |
UniCredit SpA |
Financial institutions | Germany | ||||||||||
| BBB+/Negative |
UniCredit Bank Austria AG |
UniCredit SpA |
Financial institutions | Austria | ||||||||||
| BBB+/Negative |
Van Lanschot Kempen Wealth Management N.V. |
Financial institutions | Yes | Netherlands | ||||||||||
| BBB+/Negative |
Volkswagen AG |
Automotive | Yes | Germany | ||||||||||
| BBB+/Negative |
Woodside Petroleum Ltd. |
Oil and gas | Yes | Australia | ||||||||||
| BBB+/Negative |
Zions Bancorporation N.A. |
Financial institutions | Yes | U.S. | ||||||||||
| BBB/Watch Neg |
Adelaide Airport Ltd. |
Utilities | Australia | |||||||||||
| BBB/Watch Neg |
Amadeus IT Group S.A. |
Media and entertainment | Spain | |||||||||||
| BBB/Watch Neg |
Aptiv PLC |
Automotive | Yes | Jersey | ||||||||||
| BBB/Watch Neg |
Boeing Co. |
Aerospace and defense | U.S. | |||||||||||
| BBB/Watch Neg |
Brisbane Airport Corp. Pty Ltd. |
BAC Holdings Ltd. |
Utilities | Australia | ||||||||||
| BBB/Watch Neg |
Crown Resorts Ltd. |
Media and entertainment | Australia | |||||||||||
| BBB/Watch Neg |
Dairy Farmers of America Inc. |
Consumer products | U.S. | |||||||||||
| BBB/Watch Neg |
Danfoss A/S |
Capital goods | Denmark | |||||||||||
| BBB/Watch Neg |
Falabella S.A. |
Retail/restaurants | Chile | |||||||||||
| BBB/Watch Neg |
GLP Pte. Ltd. |
Homebuilders/real estate companies | Singapore | |||||||||||
| BBB/Watch Neg |
General Motors Co. |
Automotive | U.S. | |||||||||||
| BBB/Watch Neg |
Idaho College of Osteopathic Medicine, LLC |
Utilities | U.S. | |||||||||||
| BBB/Watch Neg |
International Flavors & Fragrances Inc. |
Consumer products | U.S. | |||||||||||
| BBB/Watch Neg |
JCDecaux S.A. |
Media and entertainment | Yes | France | ||||||||||
| BBB/Watch Neg |
Jinjiang International Holding Co. Ltd. |
Media and entertainment | China | |||||||||||
| BBB/Watch Neg |
Johnson Electric Holdings Ltd. |
Automotive | Yes | Bermuda | ||||||||||
| BBB/Watch Neg |
Madrilena Red de Gas S.A.U. |
Utilities | Spain | |||||||||||
| BBB/Watch Neg |
Multibank Inc. y Subsidiarias |
Financial institutions | Panama | |||||||||||
| BBB/Watch Neg |
Perth Airport Pty Ltd. |
Perth Airport Development Group Pty Ltd |
Utilities | Australia | ||||||||||
| BBB/Watch Neg |
Queens Ballpark Co. LLC |
Utilities | U.S. | |||||||||||
| BBB/Watch Neg |
Ryanair Holdings PLC |
Transportation | Ireland | |||||||||||
| BBB/Watch Neg |
Seminole Tribe of Florida |
Media and entertainment | U.S. | |||||||||||
| BBB/Watch Neg |
Sirius International Group Ltd. |
Insurance | Bermuda | |||||||||||
| BBB/Watch Neg |
Southwest Airlines Co. |
Transportation | U.S. | |||||||||||
| BBB/Watch Neg |
Textron Inc. |
Aerospace and defense | U.S. | |||||||||||
| BBB/Watch Neg |
Timken Co. |
Capital goods | Yes | U.S. | ||||||||||
| BBB/Watch Neg |
Yankee Stadium LLC |
Media and entertainment | U.S. | |||||||||||
| BBB/Watch Neg |
easyJet PLC |
Transportation | U.K. | |||||||||||
| BBB/Negative |
A.P. Moller - Maersk A/S |
Transportation | Yes | Denmark | ||||||||||
| BBB/Negative |
AEON Co. Ltd. |
Retail/restaurants | Yes | Japan | ||||||||||
| BBB/Negative |
AMCO - Asset Management Company S.p.A. |
Financial institutions | Italy | |||||||||||
| BBB/Negative |
AerCap Holdings N.V. |
Transportation | Yes | Netherlands | ||||||||||
| BBB/Negative |
Air Lease Corp. |
Transportation | Yes | U.S. | ||||||||||
| BBB/Negative |
Alfa S.A.B. de C.V. |
Diversified | Mexico | |||||||||||
| BBB/Negative |
Altarea SCA |
Homebuilders/real estate companies | Yes | France | ||||||||||
| BBB/Negative |
American Campus Communities Inc. |
Homebuilders/real estate companies | Yes | U.S. | ||||||||||
| BBB/Negative |
Banco Inbursa S.A. Institucion de Banca Multiple Grupo Financiero Inbursa |
Grupo Financiero Inbursa |
Financial institutions | Mexico | ||||||||||
| BBB/Negative |
Banco Latinoamericano de Comercio Exterior S.A. |
Financial institutions | Panama | |||||||||||
| BBB/Negative |
Banco Mercantil del Norte S.A. Institucion de Banca Multiple Grupo Financiero Banorte |
Grupo Financiero Banorte S.A.B. de C.V. y Subsidiarias |
Financial institutions | Mexico | ||||||||||
| BBB/Negative |
Barclays PLC |
Financial institutions | Yes | U.K. | ||||||||||
| BBB/Negative |
Becton Dickinson & Co. |
Health care | U.S. | |||||||||||
| BBB/Negative |
Boral Ltd. |
Forest products and building materials | Yes | Australia | ||||||||||
| BBB/Negative |
Brookfield Property Partners L.P. |
Brookfield Asset Management Inc. |
Homebuilders/real estate companies | Yes | Bermuda | |||||||||
| BBB/Negative |
Bruce Power L.P. |
Merchant | Yes | Canada | ||||||||||
| BBB/Negative |
Bunge Ltd. |
Consumer products | Bermuda | |||||||||||
| BBB/Negative |
CE Oaxaca Cuatro, S. de R.L. de C.V. |
Utilities | Yes | Mexico | ||||||||||
| BBB/Negative |
CE Oaxaca Dos, S. de R.L. de C.V. |
Utilities | Yes | Mexico | ||||||||||
| BBB/Negative |
CPI Property Group SA |
Homebuilders/real estate companies | Yes | Luxembourg | ||||||||||
| BBB/Negative |
Canadian Tire Corp. Ltd. |
Retail/restaurants | Yes | Canada | ||||||||||
| BBB/Negative |
Carmila S.A. |
Homebuilders/real estate companies | Yes | France | ||||||||||
| BBB/Negative |
China National Chemical Corp. Ltd. |
Chemicals, packaging, and environmental services | China | |||||||||||
| BBB/Negative |
Chongqing Nan'an Urban Construction & Development (Group) Co. Ltd. |
Homebuilders/real estate companies | Yes | China | ||||||||||
| BBB/Negative |
Constellation Brands Inc. |
Consumer products | Yes | U.S. | ||||||||||
| BBB/Negative |
DENTSPLY SIRONA Inc. |
Health care | Yes | U.S. | ||||||||||
| BBB/Negative |
DXC Technology Company |
High technology | U.S. | |||||||||||
| BBB/Negative |
EQUATE Petrochemical Co K.S.C.C. |
Chemicals, packaging, and environmental services | Kuwait | |||||||||||
| BBB/Negative |
El Paso Electric Co. |
Utilities | U.S. | |||||||||||
| BBB/Negative |
El Puerto de Liverpool S.A. B. de C.V. |
Retail/restaurants | Mexico | |||||||||||
| BBB/Negative |
Ellevio AB |
Utilities | Sweden | |||||||||||
| BBB/Negative |
Emgesa S.A. E.S.P. |
Utilities | Yes | Colombia | ||||||||||
| BBB/Negative |
Emirate of Sharjah |
Sovereign | Yes | U.A.E. | ||||||||||
| BBB/Negative |
Empresas Copec S.A. (E-Copec) |
AntarChile S.A. |
Diversified | Chile | ||||||||||
| BBB/Negative |
Enel Americas S.A. |
Enel SpA |
Utilities | Yes | Chile | |||||||||
| BBB/Negative |
Equifax Inc. |
Media and entertainment | U.S. | |||||||||||
| BBB/Negative |
FedEx Corp. |
Transportation | U.S. | |||||||||||
| BBB/Negative |
Fermaca Enterprises S. de R.L. de C.V. |
Utilities | Yes | Mexico | ||||||||||
| BBB/Negative |
Ferrovie dello Stato Italiane |
Utilities | Italy | |||||||||||
| BBB/Negative |
Fideicomiso 209635 (Matehuala) |
Transportation | Yes | Mexico | ||||||||||
| BBB/Negative |
FinecoBank S.p.A. |
Financial institutions | Italy | |||||||||||
| BBB/Negative |
Fortum Oyj |
Utilities | Finland | |||||||||||
| BBB/Negative |
Grupo Bimbo S.A.B. de C.V. |
Consumer products | Mexico | |||||||||||
| BBB/Negative |
Hancock Whitney Corp. |
Financial institutions | Yes | U.S. | ||||||||||
| BBB/Negative |
Harley-Davidson Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| BBB/Negative |
Hexcel Corp. |
Aerospace and defense | U.S. | |||||||||||
| BBB/Negative |
Hong Kong Telecommunications (HKT) Ltd. |
PCCW Ltd. |
Telecommunications | Hong Kong | ||||||||||
| BBB/Negative |
Huntington Ingalls Industries Inc. |
Aerospace and defense | U.S. | |||||||||||
| BBB/Negative |
Husky Energy Inc. |
CK Hutchison Holdings Ltd. |
Oil and gas | Yes | Canada | |||||||||
| BBB/Negative |
IBERIABANK Corp. |
Financial institutions | U.S. | |||||||||||
| BBB/Negative |
ISS A/S |
Consumer products | Denmark | |||||||||||
| BBB/Negative |
Incitec Pivot Ltd. |
Chemicals, packaging, and environmental services | Australia | |||||||||||
| BBB/Negative |
Infraestructura Energetica Nova S. A. B. de C. V. |
Utilities | Mexico | |||||||||||
| BBB/Negative |
InterContinental Hotels Group PLC |
Media and entertainment | U.K. | |||||||||||
| BBB/Negative |
Interpublic Group of Cos. Inc. |
Media and entertainment | U.S. | |||||||||||
| BBB/Negative |
Intesa Sanpaolo SpA |
Financial institutions | Italy | |||||||||||
| BBB/Negative |
The J.M. Smucker Co. |
Consumer products | U.S. | |||||||||||
| BBB/Negative |
Jefferies Financial Group Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| BBB/Negative |
KKR Financial Holdings LLC |
Financial institutions | Yes | U.S. | ||||||||||
| BBB/Negative |
Kennametal Inc. |
Capital goods | Yes | U.S. | ||||||||||
| BBB/Negative |
Laurentian Bank of Canada |
Financial institutions | Canada | |||||||||||
| BBB/Negative |
Li & Fung Ltd. |
Consumer products | Bermuda | |||||||||||
| BBB/Negative |
LyondellBasell Industries N.V. |
Chemicals, packaging, and environmental services | Netherlands | |||||||||||
| BBB/Negative |
MM SpA |
Utilities | Italy | |||||||||||
| BBB/Negative |
Marathon Petroleum Corp. |
Refining | Yes | U.S. | ||||||||||
| BBB/Negative |
Mediobanca Banca di Credito Finanziario S.p.A |
Financial institutions | Italy | |||||||||||
| BBB/Negative |
Mercialys |
Homebuilders/real estate companies | France | |||||||||||
| BBB/Negative |
Mirae Asset Daewoo Co. Ltd. |
Financial institutions | Yes | Korea, Republic of | ||||||||||
| BBB/Negative |
Motiva Enterprises LLC |
Refining | Yes | U.S. | ||||||||||
| BBB/Negative |
NEPI Rockcastle PLC |
Homebuilders/real estate companies | Yes | Isle of Man | ||||||||||
| BBB/Negative |
NIPPON STEEL Corp. |
Metals, mining, and steel | Japan | |||||||||||
| BBB/Negative |
Otis Worldwide Corp. |
Capital goods | Yes | U.S. | ||||||||||
| BBB/Negative |
Pearson PLC |
Media and entertainment | U.K. | |||||||||||
| BBB/Negative |
PerkinElmer Inc. |
Health care | U.S. | |||||||||||
| BBB/Negative |
Portsmouth Water Ltd. |
Utilities | U.K. | |||||||||||
| BBB/Negative |
Indonesia |
Sovereign | Yes | Indonesia | ||||||||||
| BBB/Negative |
The Royal Bank of Scotland Group plc |
Financial institutions | Yes | U.K. | ||||||||||
| BBB/Negative |
SK Innovation Co. Ltd. |
Oil and gas | Korea, Republic of | |||||||||||
| BBB/Negative |
Santander UK Group Holdings PLC |
Banco Santander S.A. |
Financial institutions | Yes | U.K. | |||||||||
| BBB/Negative |
Societa Cattolica di Assicurazione |
Insurance | Italy | |||||||||||
| BBB/Negative |
Sonoco Products Co. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| BBB/Negative |
South Jersey Industries Inc. |
Utilities | U.S. | |||||||||||
| BBB/Negative |
South Staffordshire PLC |
Utilities | U.K. | |||||||||||
| BBB/Negative |
Tanger Factory Outlet Centers Inc. |
Homebuilders/real estate companies | Yes | U.S. | ||||||||||
| BBB/Negative |
Telefonica S.A. |
Telecommunications | Yes | Spain | ||||||||||
| BBB/Negative |
Transurban Queensland Finance Pty Ltd. |
Transurban Group |
Utilities | Yes | Australia | |||||||||
| BBB/Negative |
Unite Group PLC |
Homebuilders/real estate companies | Yes | U.K. | ||||||||||
| BBB/Negative |
United Mexican States |
Sovereign | Mexico | |||||||||||
| BBB/Negative |
ViacomCBS Inc. |
Media and entertainment | U.S. | |||||||||||
| BBB/Negative |
WPP PLC |
Media and entertainment | U.K. | |||||||||||
| BBB/Negative |
WestRock Co. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| BBB/Negative |
Westinghouse Air Brake Technologies Corp. |
Capital goods | U.S. | |||||||||||
| BBB/Negative |
Weyerhaeuser Co. |
Forest products and building materials | U.S. | |||||||||||
| BBB/Negative |
Whirlpool Corp. |
Consumer products | U.S. | |||||||||||
| BBB/Negative |
Zimmer Biomet Holdings, Inc. |
Health care | U.S. | |||||||||||
| BBB-/Watch Neg |
95 Express Lanes LLC |
Transurban Group |
Utilities | Yes | U.S. | |||||||||
| BBB-/Watch Neg |
Austin Convention Enterprises Inc. |
Media and entertainment | U.S. | |||||||||||
| BBB-/Watch Neg |
British Airways PLC |
Transportation | U.K. | |||||||||||
| BBB-/Watch Neg |
Brunswick Corp. |
Media and entertainment | U.S. | |||||||||||
| BBB-/Watch Neg |
Carnival Corp. |
Media and entertainment | Panama | |||||||||||
| BBB-/Watch Neg |
Denver Convention Center Hotel Authority |
Media and entertainment | U.S. | |||||||||||
| BBB-/Watch Neg |
Deutsche Lufthansa AG |
Transportation | Germany | |||||||||||
| BBB-/Watch Neg |
ENA Sur Trust |
Utilities | Yes | Panama | ||||||||||
| BBB-/Watch Neg |
Eagle Materials Inc. |
Forest products and building materials | U.S. | |||||||||||
| BBB-/Watch Neg |
Emaar Properties PJSC |
Homebuilders/real estate companies | Yes | U.A.E. | ||||||||||
| BBB-/Watch Neg |
Embraer S.A. |
Aerospace and defense | Brazil | |||||||||||
| BBB-/Watch Neg |
Host Hotels & Resorts Inc. |
Media and entertainment | U.S. | |||||||||||
| BBB-/Watch Neg |
Hyatt Hotels Corp. |
Media and entertainment | U.S. | |||||||||||
| BBB-/Watch Neg |
IHO Verwaltungs GmbH |
Automotive | Yes | Germany | ||||||||||
| BBB-/Watch Neg |
International Consolidated Airlines Group, S.A. |
Transportation | Spain | |||||||||||
| BBB-/Watch Neg |
Kingfisher PLC |
Retail/restaurants | Yes | U.K. | ||||||||||
| BBB-/Watch Neg |
Las Vegas Sands Corp. |
Media and entertainment | U.S. | |||||||||||
| BBB-/Watch Neg |
Marriott International Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| BBB-/Watch Neg |
Metso Corp. |
Capital goods | Finland | |||||||||||
| BBB-/Watch Neg |
Minsur S.A. |
Breca Mineria S.A.C. and Subsidiaries |
Metals, mining, and steel | Peru | ||||||||||
| BBB-/Watch Neg |
Next PLC |
Consumer products | Yes | U.K. | ||||||||||
| BBB-/Watch Neg |
Nexteer Automotive Group Ltd. |
Aviation Industry Corporation of China Ltd. |
Automotive | Yes | Cayman Islands | |||||||||
| BBB-/Watch Neg |
Prospect Capital Corp. |
Financial institutions | Yes | U.S. | ||||||||||
| BBB-/Watch Neg |
Rolls-Royce Holdings PLC |
Aerospace and defense | Yes | U.K. | ||||||||||
| BBB-/Watch Neg |
SKYCITY Entertainment Group Ltd. |
Media and entertainment | New Zealand | |||||||||||
| BBB-/Watch Neg |
Sociedad Concesionaria Vespucio Norte Express S.A. |
Transportation | Yes | Chile | ||||||||||
| BBB-/Watch Neg |
Steelcase Inc. |
Consumer products | Yes | U.S. | ||||||||||
| BBB-/Watch Neg |
Sysco Corp. |
Consumer products | U.S. | |||||||||||
| BBB-/Watch Neg |
Tech Data Corp. |
High technology | U.S. | |||||||||||
| BBB-/Watch Neg |
Toll Road Investors Partnership II LP |
Transportation | Yes | U.S. | ||||||||||
| BBB-/Watch Neg |
Valeo S.A. |
Automotive | Yes | France | ||||||||||
| BBB-/Watch Neg |
Zhejiang Geely Holding Group Co. Ltd. |
Automotive | Yes | China | ||||||||||
| BBB-/Negative |
AIB Group PLC |
Financial institutions | Yes | Ireland | ||||||||||
| BBB-/Negative |
Abertis Infraestructuras S.A. |
Utilities | Yes | Spain | ||||||||||
| BBB-/Negative |
Accor S.A. |
Media and entertainment | France | |||||||||||
| BBB-/Negative |
Aker BP ASA |
Oil and gas | Norway | |||||||||||
| BBB-/Negative |
American Equity Investment Life Holding Co. |
Insurance | Yes | U.S. | ||||||||||
| BBB-/Negative |
ArcelorMittal |
Metals, mining, and steel | Luxembourg | |||||||||||
| BBB-/Negative |
Argo Group US Inc. |
Argo Group International Holdings Ltd. |
Financial institutions | U.S. | ||||||||||
| BBB-/Negative |
Ashtead Group PLC |
Capital goods | Yes | U.K. | ||||||||||
| BBB-/Negative |
Auchan Holding |
Retail/restaurants | France | |||||||||||
| BBB-/Negative |
AutoNation Inc. |
Automotive | Yes | U.S. | ||||||||||
| BBB-/Negative |
Aviation Capital Group LLC |
Pacific LifeCorp |
Transportation | Yes | U.S. | |||||||||
| BBB-/Negative |
Avolon Holdings Ltd. |
Transportation | Yes | Cayman Islands | ||||||||||
| BBB-/Negative |
Axis Bank Ltd. |
Financial institutions | Yes | India | ||||||||||
| BBB-/Negative |
Bank of Ireland Group PLC |
Financial institutions | Yes | Ireland | ||||||||||
| BBB-/Negative |
Beijing Capital Group Co. Ltd. |
Homebuilders/real estate companies | China | |||||||||||
| BBB-/Negative |
Bharti Airtel Ltd. |
Telecommunications | Yes | India | ||||||||||
| BBB-/Negative |
Braskem S.A. |
Odebrecht S.A. |
Chemicals, packaging, and environmental services | Brazil | ||||||||||
| BBB-/Negative |
BrightSphere Investment Group Inc. |
Financial institutions | U.S. | |||||||||||
| BBB-/Negative |
Cameco Corp. |
Metals, mining, and steel | Canada | |||||||||||
| BBB-/Negative |
Capri Holdings Limited |
Retail/restaurants | British Virgin Islands | |||||||||||
| BBB-/Negative |
Cenovus Energy Inc. |
Oil and gas | Yes | Canada | ||||||||||
| BBB-/Negative |
China Jinmao Holdings Group Ltd. |
Sinochem Group |
Homebuilders/real estate companies | Yes | Hong Kong | |||||||||
| BBB-/Negative |
Choice Hotels International Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| BBB-/Negative |
Cimarex Energy Co. |
Oil and gas | Yes | U.S. | ||||||||||
| BBB-/Negative |
Citycon Oyj |
Homebuilders/real estate companies | Finland | |||||||||||
| BBB-/Negative |
Conagra Brands Inc. |
Consumer products | U.S. | |||||||||||
| BBB-/Negative |
DIFC Investments Ltd. |
Homebuilders/real estate companies | Yes | U.A.E. | ||||||||||
| BBB-/Negative |
Darden Restaurants Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| BBB-/Negative |
Devon Energy Corp. |
Oil and gas | Yes | U.S. | ||||||||||
| BBB-/Negative |
Diamondback Energy Inc |
Oil and gas | U.S. | |||||||||||
| BBB-/Negative |
EPR Properties |
Homebuilders/real estate companies | Yes | U.S. | ||||||||||
| BBB-/Negative |
Ecopetrol S.A. |
Oil and gas | Yes | Colombia | ||||||||||
| BBB-/Negative |
Elizabeth River Crossings Opco LLC |
Utilities | Yes | U.S. | ||||||||||
| BBB-/Negative |
Empresa Nacional del Petroleo |
Utilities | Yes | Chile | ||||||||||
| BBB-/Negative |
Enable Midstream Partners LP |
Utilities | Yes | U.S. | ||||||||||
| BBB-/Negative |
Expedia Group Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| BBB-/Negative |
Financiera de Desarrollo Territorial S.A. FINDETER |
Financial institutions | Yes | Colombia | ||||||||||
| BBB-/Negative |
GKN Holdings Limited |
Automotive | U.K. | |||||||||||
| BBB-/Negative |
Gerdau S.A. |
Metalurgica Gerdau S.A. |
Metals, mining, and steel | Yes | Brazil | |||||||||
| BBB-/Negative |
Grupo Energia Bogota S.A.E.S.P. |
Utilities | Yes | Colombia | ||||||||||
| BBB-/Negative |
Grupo de Inversiones Suramericana S.A. |
Diversified | Yes | Colombia | ||||||||||
| BBB-/Negative |
Hess Corp. |
Oil and gas | Yes | U.S. | ||||||||||
| BBB-/Negative |
Howmet Aerospace Inc. |
Aerospace and defense | Yes | U.S. | ||||||||||
| BBB-/Negative |
ICICI Bank Ltd. |
Financial institutions | Yes | India | ||||||||||
| BBB-/Negative |
ITV PLC |
Media and entertainment | U.K. | |||||||||||
| BBB-/Negative |
Innergex Renewable Energy Inc. |
Merchant | Canada | |||||||||||
| BBB-/Negative |
Inter Pipeline Ltd. |
Midstream | Canada | |||||||||||
| BBB-/Negative |
Kohl's Corp. |
Retail/restaurants | U.S. | |||||||||||
| BBB-/Negative |
Lear Corp. |
Automotive | Yes | U.S. | ||||||||||
| BBB-/Negative |
Marathon Oil Corp. |
Oil and gas | Yes | U.S. | ||||||||||
| BBB-/Negative |
Molson Coors Beverage Company |
Consumer products | Yes | U.S. | ||||||||||
| BBB-/Negative |
National Fuel Gas Co. |
Utilities | Yes | U.S. | ||||||||||
| BBB-/Negative |
Nelnet Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| BBB-/Negative |
Noble Energy Inc. |
Oil and gas | Yes | U.S. | ||||||||||
| BBB-/Negative |
Nordstrom Inc. |
Retail/restaurants | U.S. | |||||||||||
| BBB-/Negative |
Ocean Spray Cranberries Inc. |
Consumer products | U.S. | |||||||||||
| BBB-/Negative |
Ohio National Financial Services Inc. |
Ohio National Mutual Holdings Inc. |
Financial institutions | U.S. | ||||||||||
| BBB-/Negative |
Ovintiv Inc. |
Oil and gas | Yes | U.S. | ||||||||||
| BBB-/Negative |
PVH Corp. |
Consumer products | Yes | U.S. | ||||||||||
| BBB-/Negative |
Peugeot S.A. |
Automotive | Yes | France | ||||||||||
| BBB-/Negative |
PotlatchDeltic Corp. |
Forest products and building materials | U.S. | |||||||||||
| BBB-/Negative |
Power Finance Corp. Ltd. |
Republic of India |
Financial institutions | Yes | India | |||||||||
| BBB-/Negative |
Puget Energy Inc. |
Puget Holdings LLC |
Utilities | U.S. | ||||||||||
| BBB-/Negative |
Rakuten Inc. |
High technology | Japan | |||||||||||
| BBB-/Negative |
Colombia |
Sovereign | Yes | Colombia | ||||||||||
| BBB-/Negative |
Retail Opportunity Investments Corp. |
Homebuilders/real estate companies | Yes | U.S. | ||||||||||
| BBB-/Negative |
Romania |
Sovereign | Romania | |||||||||||
| BBB-/Negative |
Suedzucker AG |
Consumer products | Germany | |||||||||||
| BBB-/Negative |
Suzano S.A. |
Forest products and building materials | Brazil | |||||||||||
| BBB-/Negative |
Tabcorp Holdings Ltd. |
Media and entertainment | Australia | |||||||||||
| BBB-/Negative |
Tanner Servicios Financieros S.A. |
Financial institutions | Yes | Chile | ||||||||||
| BBB-/Negative |
Tapestry Inc. |
Consumer products | U.S. | |||||||||||
| BBB-/Negative |
Trinity Industries Inc. |
Transportation | U.S. | |||||||||||
| BBB-/Negative |
Vale S.A. |
Metals, mining, and steel | Brazil | |||||||||||
| BBB-/Negative |
Virgin Money UK PLC |
Financial institutions | Yes | U.K. | ||||||||||
| BBB-/Negative |
West Fraser Timber Co. Ltd. |
Forest products and building materials | Yes | Canada | ||||||||||
| BBB-/Negative |
Yangzhou Urban Construction State-owned Assets Holding (Group) Co. Ltd. |
Utilities | Yes | China | ||||||||||
| BBB-/Negative |
Yuexiu Real Estate Investment Trust |
Guangzhou Yuexiu Holdings Ltd. |
Homebuilders/real estate companies | Hong Kong | ||||||||||
| BBB-/Negative |
Zijin Mining Group Co. Ltd. |
Metals, mining, and steel | Yes | China | ||||||||||
| BB+/Watch Neg |
Aristocrat Leisure Ltd. |
Media and entertainment | Yes | Australia | ||||||||||
| BB+/Watch Neg |
El Corte Ingles, S.A. |
Retail/restaurants | Yes | Spain | ||||||||||
| BB+/Watch Neg |
Elanco Animal Health Incorporated |
Health care | U.S. | |||||||||||
| BB+/Watch Neg |
Ford Motor Co. |
Automotive | U.S. | |||||||||||
| BB+/Watch Neg |
HD Supply Inc. |
Capital goods | U.S. | |||||||||||
| BB+/Watch Neg |
Hilton Grand Vacations Inc. |
Media and entertainment | U.S. | |||||||||||
| BB+/Watch Neg |
IAC/InterActiveCorp. |
Media and entertainment | U.S. | |||||||||||
| BB+/Watch Neg |
Marks & Spencer PLC |
Marks & Spencer Group PLC |
Retail/restaurants | Yes | U.K. | |||||||||
| BB+/Watch Neg |
Occidental Petroleum Corp. |
Oil and gas | U.S. | |||||||||||
| BB+/Watch Neg |
PCI Gaming Authority |
Media and entertainment | U.S. | |||||||||||
| BB+/Watch Neg |
Sensata Technologies B.V. |
Automotive | Yes | Netherlands | ||||||||||
| BB+/Watch Neg |
Service Properties Trust |
Homebuilders/real estate companies | Yes | U.S. | ||||||||||
| BB+/Watch Neg |
Speedway Motorsports LLC |
Media and entertainment | U.S. | |||||||||||
| BB+/Negative |
Amplifon SpA |
Health care | Yes | Italy | ||||||||||
| BB+/Negative |
Apache Corp. |
Oil and gas | Yes | U.S. | ||||||||||
| BB+/Negative |
Asbury Automotive Group Inc. |
Automotive | U.S. | |||||||||||
| BB+/Negative |
Beijing Easyhome Investment Holding Group Co. Ltd. |
Homebuilders/real estate companies | China | |||||||||||
| BB+/Negative |
Berry Global Group Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| BB+/Negative |
The Brink's Co. |
Media and entertainment | U.S. | |||||||||||
| BB+/Negative |
CAP S.A. |
Metals, mining, and steel | Chile | |||||||||||
| BB+/Negative |
CDK Global Inc. |
Media and entertainment | U.S. | |||||||||||
| BB+/Negative |
Cadence BanCorp. |
Cadence Bancorp LLC |
Financial institutions | Yes | U.S. | |||||||||
| BB+/Negative |
Carter's Inc. |
Consumer products | Yes | U.S. | ||||||||||
| BB+/Negative |
China Water Affairs Group Ltd. |
Utilities | Bermuda | |||||||||||
| BB+/Negative |
Colfax Corp. |
Capital goods | U.S. | |||||||||||
| BB+/Negative |
Continental Resources Inc. |
Oil and gas | Yes | U.S. | ||||||||||
| BB+/Negative |
DCP Midstream, LP |
Phillips 66 |
Midstream | Yes | U.S. | |||||||||
| BB+/Negative |
Dell Technologies Inc. |
High technology | Yes | U.S. | ||||||||||
| BB+/Negative |
Fair Isaac Corp. |
High technology | Yes | U.S. | ||||||||||
| BB+/Negative |
Foot Locker Inc. |
Consumer products | Yes | U.S. | ||||||||||
| BB+/Negative |
Gaming & Leisure Properties Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| BB+/Negative |
Group 1 Automotive Inc. |
Automotive | Yes | U.S. | ||||||||||
| BB+/Negative |
Hillenbrand Inc. |
Capital goods | U.S. | |||||||||||
| BB+/Negative |
Icahn Enterprises L.P. |
Financial institutions | U.S. | |||||||||||
| BB+/Negative |
Immobiliare Grande Distribuzione SIIQ S.p.A. |
Homebuilders/real estate companies | Italy | |||||||||||
| BB+/Negative |
Kaiser Aluminum Corp. |
Metals, mining, and steel | Yes | U.S. | ||||||||||
| BB+/Negative |
Kraft Heinz Co. (The) |
Consumer products | U.S. | |||||||||||
| BB+/Negative |
LPL Holdings Inc. |
Financial institutions | U.S. | |||||||||||
| BB+/Negative |
Levi Strauss & Co. |
Consumer products | Yes | U.S. | ||||||||||
| BB+/Negative |
MGIC Investment Corp. |
Insurance | Yes | U.S. | ||||||||||
| BB+/Negative |
Midland Cogeneration Venture L.P. |
Utilities | U.S. | |||||||||||
| BB+/Negative |
Newell Brands Inc. |
Consumer products | Yes | U.S. | ||||||||||
| BB+/Negative |
Nokia Corp. |
High technology | Finland | |||||||||||
| BB+/Negative |
PHOENIX Pharmahandel GmbH & Co. KG |
Health care | Germany | |||||||||||
| BB+/Negative |
Patterson-UTI Energy Inc. |
Oil and gas | U.S. | |||||||||||
| BB+/Negative |
Pitney Bowes Inc. |
High technology | Yes | U.S. | ||||||||||
| BB+/Negative |
Promontoria MMB SAS |
Financial institutions | Yes | France | ||||||||||
| BB+/Negative |
Radian Group Inc. |
Insurance | Yes | U.S. | ||||||||||
| BB+/Negative |
Red Star Macalline Group Corp. Ltd. |
Red Star Macalline Holding Group Co. Ltd. |
Homebuilders/real estate companies | China | ||||||||||
| BB+/Negative |
Renault S.A. |
Automotive | Yes | France | ||||||||||
| BB+/Negative |
Ritchie Bros. Auctioneers Inc. |
Capital goods | Yes | Canada | ||||||||||
| BB+/Negative |
Rockies Express Pipeline LLC |
Midstream | Yes | U.S. | ||||||||||
| BB+/Negative |
SNC-Lavalin Group Inc. |
Capital goods | Canada | |||||||||||
| BB+/Negative |
Samvardhana Motherson Automotive Systems Group B.V. |
Motherson Sumi Systems Ltd. |
Automotive | Netherlands | ||||||||||
| BB+/Negative |
Science Applications International Corp. |
Aerospace and defense | U.S. | |||||||||||
| BB+/Negative |
Silgan Holdings Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| BB+/Negative |
SoftBank Group Corp. |
Financial institutions | Japan | |||||||||||
| BB+/Negative |
TransUnion |
Media and entertainment | Yes | U.S. | ||||||||||
| BB+/Negative |
Travis Perkins PLC |
Forest products and building materials | U.K. | |||||||||||
| BB+/Negative |
Western Digital Corp. |
High technology | U.S. | |||||||||||
| BB+/Negative |
Xerox Holdings Corp. |
High technology | U.S. | |||||||||||
| BB+/Negative |
Xinjiang Zhongtai (Group) Co. Ltd. |
Chemicals, packaging, and environmental services | China | |||||||||||
| BB+/Negative |
ZF Friedrichshafen AG |
Automotive | Germany | |||||||||||
| BB/Watch Neg |
Air Canada |
ACE Aviation Holdings Inc. |
Transportation | Canada | ||||||||||
| BB/Watch Neg |
Anixter International Inc. |
High technology | U.S. | |||||||||||
| BB/Watch Neg |
Aramark |
Consumer products | U.S. | |||||||||||
| BB/Watch Neg |
CEMEX S.A.B. de C.V. |
Forest products and building materials | Yes | Mexico | ||||||||||
| BB/Watch Neg |
Churchill Downs Inc. |
Media and entertainment | U.S. | |||||||||||
| BB/Watch Neg |
Dana Inc. |
Automotive | Yes | U.S. | ||||||||||
| BB/Watch Neg |
Delta Air Lines Inc. |
Transportation | U.S. | |||||||||||
| BB/Watch Neg |
FNAC Darty SA |
Retail/restaurants | Yes | France | ||||||||||
| BB/Watch Neg |
Four Seasons Holdings Inc. |
Media and entertainment | Yes | Canada | ||||||||||
| BB/Watch Neg |
G-III Apparel Group Ltd. |
Consumer products | Yes | U.S. | ||||||||||
| BB/Watch Neg |
Gestamp Automocion |
Acek Desarrollo Y Gestion Industrial, S.L.Y Sociedades Dependientes |
Automotive | Yes | Spain | |||||||||
| BB/Watch Neg |
Grupo KUO S.A.B. de C.V. |
Diversified | Yes | Mexico | ||||||||||
| BB/Watch Neg |
International Game Technology Plc |
Media and entertainment | U.K. | |||||||||||
| BB/Watch Neg |
Melco Resorts (Macau) Ltd. |
Melco International Development Ltd. |
Media and entertainment | Macau | ||||||||||
| BB/Watch Neg |
Mobile Mini Inc. |
Transportation | U.S. | |||||||||||
| BB/Watch Neg |
NASCAR Holdings, LLC |
Media and entertainment | U.S. | |||||||||||
| BB/Watch Neg |
Nielsen Holdings PLC |
Media and entertainment | U.K. | |||||||||||
| BB/Watch Neg |
Teva Pharmaceutical Industries Ltd. |
Health care | Israel | |||||||||||
| BB/Watch Neg |
Trinidad Petroleum Holdings Ltd. |
Oil and gas | Yes | Trinidad and Tobago | ||||||||||
| BB/Watch Neg |
US Foods Inc. |
Consumer products | U.S. | |||||||||||
| BB/Watch Neg |
WESCO International Inc. |
Capital goods | U.S. | |||||||||||
| BB/Negative |
ACCO Brands Corp. |
Consumer products | U.S. | |||||||||||
| BB/Negative |
AES Panama S.R.L. |
Utilities | Panama | |||||||||||
| BB/Negative |
AMN Healthcare Services Inc. |
Health care | U.S. | |||||||||||
| BB/Negative |
Adecoagro S.A. |
Consumer products | Yes | Brazil | ||||||||||
| BB/Negative |
Agile Group Holdings Ltd. |
Homebuilders/real estate companies | Yes | Cayman Islands | ||||||||||
| BB/Negative |
Arcelik A.S. |
Consumer products | Turkey | |||||||||||
| BB/Negative |
Blucora Inc. |
HDV Holdings Inc. | Financial institutions | Yes | U.S. | |||||||||
| BB/Negative |
Burlington Stores Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| BB/Negative |
CYDSA, S.A.B. de C.V. |
Chemicals, packaging, and environmental services | Mexico | |||||||||||
| BB/Negative |
Cabot Microelectronics Corp. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| BB/Negative |
Clearway Energy Inc. |
NRG Energy Inc. |
Utilities | U.S. | ||||||||||
| BB/Negative |
Corus Entertainment Inc. |
Media and entertainment | Yes | Canada | ||||||||||
| BB/Negative |
DPL Inc. |
The AES Corp. |
Utilities | U.S. | ||||||||||
| BB/Negative |
DaVita Inc. |
Health care | U.S. | |||||||||||
| BB/Negative |
Doosan Bobcat Inc. |
Doosan Infracore Co. Ltd. |
Capital goods | Yes | Korea, Republic of | |||||||||
| BB/Negative |
Elior Group S.A. |
Consumer products | Yes | France | ||||||||||
| BB/Negative |
Elis S.A. |
Consumer products | Yes | France | ||||||||||
| BB/Negative |
Fly Leasing Ltd. |
Transportation | Yes | Bermuda | ||||||||||
| BB/Negative |
Frontera Generation Holdings LLC |
Merchant | U.S. | |||||||||||
| BB/Negative |
H.B. Fuller Co. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| BB/Negative |
GMR Hyderabad International Airport Ltd |
Utilities | Yes | India | ||||||||||
| BB/Negative |
Gartner Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| BB/Negative |
Getlink |
Utilities | France | |||||||||||
| BB/Negative |
Graham Holdings Co. |
Media and entertainment | Yes | U.S. | ||||||||||
| BB/Negative |
Greenhill & Co. Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| BB/Negative |
Greif Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| BB/Negative |
Haitong Bank S.A. |
Haitong Securities Co. Ltd. |
Financial institutions | Yes | Portugal | |||||||||
| BB/Negative |
Hanesbrands Inc. |
Consumer products | Yes | U.S. | ||||||||||
| BB/Negative |
Hilton Worldwide Holdings Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| BB/Negative |
IDBI Bank Ltd. |
Financial institutions | India | |||||||||||
| BB/Negative |
INEOS Enterprises Holdings Ltd. |
Chemicals, packaging, and environmental services | Yes | U.K. | ||||||||||
| BB/Negative |
Iccrea Banca SpA |
Financial institutions | Yes | Italy | ||||||||||
| BB/Negative |
Ineos Group Holdings S.A. |
Chemicals, packaging, and environmental services | Yes | Luxembourg | ||||||||||
| BB/Negative |
Ineos Styrolution Holding Ltd. |
Chemicals, packaging, and environmental services | Yes | Germany | ||||||||||
| BB/Negative |
Intrum AB (publ) |
Financial institutions | Sweden | |||||||||||
| BB/Negative |
KazMunayGas NC JSC |
Oil and gas | Yes | Kazakhstan | ||||||||||
| BB/Negative |
MTN Group Ltd. |
Telecommunications | South Africa | |||||||||||
| BB/Negative |
Macquarie Infrastructure Corp. |
Utilities | Yes | U.S. | ||||||||||
| BB/Negative |
Marriott Vacations Worldwide Corp. |
Media and entertainment | U.S. | |||||||||||
| BB/Negative |
Matthews International Corp. |
Health care | U.S. | |||||||||||
| BB/Negative |
Methanex Corp. |
Chemicals, packaging, and environmental services | Yes | Canada | ||||||||||
| BB/Negative |
Murphy Oil Corp. |
Oil and gas | Yes | U.S. | ||||||||||
| BB/Negative |
Muthoot Finance Ltd. |
Financial institutions | Yes | India | ||||||||||
| BB/Negative |
NMI Holdings Inc. |
Insurance | Yes | U.S. | ||||||||||
| BB/Negative |
Neenah Inc. |
Forest products and building materials | Yes | U.S. | ||||||||||
| BB/Negative |
Nexans S.A. |
Capital goods | France | |||||||||||
| BB/Negative |
Nufarm Ltd. |
Chemicals, packaging, and environmental services | Australia | |||||||||||
| BB/Negative |
OCI N.V. |
Chemicals, packaging, and environmental services | Netherlands | |||||||||||
| BB/Negative |
Olin Corp. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| BB/Negative |
PDC Energy Inc. |
Oil and gas | Yes | U.S. | ||||||||||
| BB/Negative |
Penske Automotive Group Inc. |
Automotive | Yes | U.S. | ||||||||||
| BB/Negative |
Rand Water |
Utilities | South Africa | |||||||||||
| BB/Negative |
South Africa |
Sovereign | South Africa | |||||||||||
| BB/Negative |
Restaurant Brands International Inc. |
Retail/restaurants | Yes | Canada | ||||||||||
| BB/Negative |
Royal Caribbean Cruises Ltd. |
Media and entertainment | Yes | U.S. | ||||||||||
| BB/Negative |
Sappi Ltd. |
Forest products and building materials | Yes | South Africa | ||||||||||
| BB/Negative |
Shriram Transport Finance Co. Ltd. |
Financial institutions | India | |||||||||||
| BB/Negative |
Signature Aviation PLC |
Transportation | Yes | U.K. | ||||||||||
| BB/Negative |
Stericycle Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| BB/Negative |
TTM Technologies Inc. |
High technology | U.S. | |||||||||||
| BB/Negative |
Taylor Morrison Home Corp. |
Homebuilders/real estate companies | U.S. | |||||||||||
| BB/Negative |
Teollisuuden Voima Oyj |
Utilities | Yes | Finland | ||||||||||
| BB/Negative |
Bahamas |
Sovereign | Bahamas | |||||||||||
| BB/Negative |
Transnet SOC Ltd. |
Utilities | South Africa | |||||||||||
| BB/Negative |
TriNet Group Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| BB/Negative |
Under Armour Inc. |
Consumer products | Yes | U.S. | ||||||||||
| BB/Negative |
Wolverine World Wide Inc. |
Consumer products | U.S. | |||||||||||
| BB/Negative |
Wyndham Hotels & Resorts Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| BB/Negative |
iStar Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| BB-/Watch Neg |
Atlantia SpA |
Utilities | Italy | |||||||||||
| BB-/Watch Neg |
Bloomin' Brands Inc. |
Retail/restaurants | U.S. | |||||||||||
| BB-/Watch Neg |
Cinemark Holdings Inc. |
Media and entertainment | U.S. | |||||||||||
| BB-/Watch Neg |
Delhi International Airport Ltd. |
Utilities | India | |||||||||||
| BB-/Watch Neg |
Dometic Group AB |
Capital goods | Yes | Sweden | ||||||||||
| BB-/Watch Neg |
Douglas Dynamics Inc. |
Capital goods | Yes | U.S. | ||||||||||
| BB-/Watch Neg |
Dufry AG |
Retail/restaurants | Switzerland | |||||||||||
| BB-/Watch Neg |
Elementia S.A.B. de C.V. |
Forest products and building materials | Mexico | |||||||||||
| BB-/Watch Neg |
Extended Stay America Inc. |
Media and entertainment | U.S. | |||||||||||
| BB-/Watch Neg |
Garrett Motion Inc. |
Automotive | Yes | U.S. | ||||||||||
| BB-/Watch Neg |
Georgian Oil and Gas Corp. JSC |
Oil and gas | Georgia | |||||||||||
| BB-/Watch Neg |
Hilcorp Energy I L.P. |
Oil and gas | U.S. | |||||||||||
| BB-/Watch Neg |
IAA Inc. |
Automotive | Yes | U.S. | ||||||||||
| BB-/Watch Neg |
Ladder Capital Finance Holdings LLLP |
Financial institutions | Yes | U.S. | ||||||||||
| BB-/Watch Neg |
Live Nation Entertainment Inc. |
Media and entertainment | U.S. | |||||||||||
| BB-/Watch Neg |
MGM Resorts International |
Media and entertainment | U.S. | |||||||||||
| BB-/Watch Neg |
NCL Corp. Ltd. |
Media and entertainment | Bermuda | |||||||||||
| BB-/Watch Neg |
Natura Cosmeticos S.A. |
Natura Holding S.A. |
Consumer products | Brazil | ||||||||||
| BB-/Watch Neg |
Operadora de Servicios Mega, S.A. de C.V. SOFOM, E.R. |
Financial institutions | Yes | Mexico | ||||||||||
| BB-/Watch Neg |
Patrick Industries Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| BB-/Watch Neg |
Salini Impregilo SpA |
Homebuilders/real estate companies | Italy | |||||||||||
| BB-/Watch Neg |
Serba Dinamik Holdings Bhd. |
Oil and gas | Yes | Malaysia | ||||||||||
| BB-/Watch Neg |
Studio City Co. Ltd. |
Melco International Development Ltd. |
Media and entertainment | British Virgin Islands | ||||||||||
| BB-/Watch Neg |
Unifin Financiera, S.A.B. de C.V. |
Financial institutions | Yes | Mexico | ||||||||||
| BB-/Watch Neg |
United Airlines Holdings Inc. |
Transportation | U.S. | |||||||||||
| BB-/Watch Neg |
Universal Entertainment Corp. |
Media and entertainment | Japan | |||||||||||
| BB-/Watch Neg |
Visteon Corp. |
Automotive | U.S. | |||||||||||
| BB-/Watch Neg |
Wynn Resorts Ltd. |
Media and entertainment | U.S. | |||||||||||
| BB-/Negative |
AMG Advanced Metallurgical Group N.V. |
Metals, mining, and steel | Netherlands | |||||||||||
| BB-/Negative |
Advanced Integration Technology LP |
Aerospace and defense | U.S. | |||||||||||
| BB-/Negative |
Alkermes PLC |
Health care | Ireland | |||||||||||
| BB-/Negative |
Arrow Global Group PLC |
Financial institutions | Yes | U.K. | ||||||||||
| BB-/Negative |
Avanos Medical Inc. |
Health care | U.S. | |||||||||||
| BB-/Negative |
BankMuscat S.A.O.G. |
Financial institutions | Oman | |||||||||||
| BB-/Negative |
Borets International Ltd. |
Capital goods | Yes | U.A.E. | ||||||||||
| BB-/Negative |
Builders FirstSource Inc. |
Forest products and building materials | Yes | U.S. | ||||||||||
| BB-/Negative |
Cable & Wireless Communications Limited |
Liberty Latin America Ltd. |
Telecommunications | Yes | U.K. | |||||||||
| BB-/Negative |
Cabot Financial Ltd. |
Encore Capital Group Inc. |
Financial institutions | Yes | U.K. | |||||||||
| BB-/Negative |
Clearwater Paper Corp. |
Forest products and building materials | U.S. | |||||||||||
| BB-/Negative |
Compass Minerals International Inc. |
Metals, mining, and steel | U.S. | |||||||||||
| BB-/Negative |
Dillard's Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| BB-/Negative |
Dominican Republic |
Sovereign | Yes | Dominican Republic | ||||||||||
| BB-/Negative |
Ducommun Inc. |
Aerospace and defense | U.S. | |||||||||||
| BB-/Negative |
EQT Corp. |
Utilities | U.S. | |||||||||||
| BB-/Negative |
Element Solutions Inc. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| BB-/Negative |
Endeavor Energy Resources L.P |
Oil and gas | Yes | U.S. | ||||||||||
| BB-/Negative |
Energizer Holdings Inc. |
Consumer products | U.S. | |||||||||||
| BB-/Negative |
Equitrans Midstream |
Utilities | Yes | U.S. | ||||||||||
| BB-/Negative |
The Gap Inc. |
Consumer products | U.S. | |||||||||||
| BB-/Negative |
Glenmark Pharmaceuticals Ltd. |
Health care | India | |||||||||||
| BB-/Negative |
Greystar Real Estate Partners, LLC |
Financial institutions | U.S. | |||||||||||
| BB-/Negative |
Guacolda Energia S.A |
Utilities | Chile | |||||||||||
| BB-/Negative |
Harbor Freight Tools USA Inc. |
Retail/restaurants | U.S. | |||||||||||
| BB-/Negative |
Harsco Corp. |
Capital goods | Yes | U.S. | ||||||||||
| BB-/Negative |
Jeld-Wen Inc. |
Forest products and building materials | Yes | U.S. | ||||||||||
| BB-/Negative |
Lamar Advertising Co. |
Media and entertainment | Yes | U.S. | ||||||||||
| BB-/Negative |
Liquidnet Holdings Inc. |
Financial institutions | U.S. | |||||||||||
| BB-/Negative |
MEDNAX Inc. |
Health care | U.S. | |||||||||||
| BB-/Negative |
Manappuram Finance Ltd. |
Financial institutions | Yes | India | ||||||||||
| BB-/Negative |
Micro Focus International PLC |
High technology | U.K. | |||||||||||
| BB-/Negative |
Natgasoline, LLC |
Refining | Yes | U.S. | ||||||||||
| BB-/Negative |
Neptune Energy Group Midco Ltd |
Oil and gas | U.K. | |||||||||||
| BB-/Negative |
NuStar Energy L.P. |
Midstream | U.S. | |||||||||||
| BB-/Negative |
Oman Electricity Transmission Co. |
Utilities | Oman | |||||||||||
| BB-/Negative |
PT Japfa Comfeed Indonesia Tbk. |
Consumer products | Indonesia | |||||||||||
| BB-/Negative |
Panama Canal Railway Co. |
Transportation | Yes | Cayman Islands | ||||||||||
| BB-/Negative |
Permanent TSB Group Holdings PLC |
Financial institutions | Yes | Ireland | ||||||||||
| BB-/Negative |
Qurate Retail Inc. |
Retail/restaurants | U.S. | |||||||||||
| BB-/Negative |
Sally Beauty Holdings Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| BB-/Negative |
Samsonite International S.A. |
Consumer products | Yes | Luxembourg | ||||||||||
| BB-/Negative |
Seven Generations Energy Ltd. |
Oil and gas | Yes | Canada | ||||||||||
| BB-/Negative |
Sinclair Broadcast Group Inc. |
Media and entertainment | U.S. | |||||||||||
| BB-/Negative |
Southwestern Energy Co. |
Oil and gas | U.S. | |||||||||||
| BB-/Negative |
Spirit AeroSystems Inc. |
Aerospace and defense | U.S. | |||||||||||
| BB-/Negative |
Starwood Property Trust Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| BB-/Negative |
Oman |
Sovereign | Oman | |||||||||||
| BB-/Negative |
TEGNA Inc. |
Media and entertainment | U.S. | |||||||||||
| BB-/Negative |
TI Fluid Systems plc |
Automotive | Yes | U.K. | ||||||||||
| BB-/Negative |
TMK PAO |
Metals, mining, and steel | Yes | Russia | ||||||||||
| BB-/Negative |
TRI Pointe Group Inc. |
Homebuilders/real estate companies | Yes | U.S. | ||||||||||
| BB-/Negative |
Terex Corp. |
Capital goods | Yes | U.S. | ||||||||||
| BB-/Negative |
Thor Industries Inc. |
Media and entertainment | U.S. | |||||||||||
| BB-/Negative |
TreeHouse Foods Inc. |
Consumer products | U.S. | |||||||||||
| BB-/Negative |
Victoria PLC |
Consumer products | Yes | U.K. | ||||||||||
| BB-/Negative |
WEX Inc. |
Financial institutions | U.S. | |||||||||||
| BB-/Negative |
Wabash National Corp. |
Automotive | Yes | U.S. | ||||||||||
| BB-/Negative |
Wyndham Destinations Inc. |
Media and entertainment | U.S. | |||||||||||
| BB-/Negative |
Zhongrong International Holdings Ltd. |
Zhongrong International Trust Co. Ltd. |
Financial institutions | British Virgin Islands | ||||||||||
| B+/Watch Neg |
ASM Global Parent Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Watch Neg |
Adient plc |
Automotive | Yes | Ireland | ||||||||||
| B+/Watch Neg |
Air Baltic Corp. AS |
Transportation | Latvia | |||||||||||
| B+/Watch Neg |
Allegiant Travel Co. |
Transportation | U.S. | |||||||||||
| B+/Watch Neg |
American Axle & Manufacturing Holdings Inc. |
Automotive | Yes | U.S. | ||||||||||
| B+/Watch Neg |
Avis Budget Group Inc. |
Transportation | U.S. | |||||||||||
| B+/Watch Neg |
Avon Products Inc. |
Natura Holding S.A. |
Consumer products | U.S. | ||||||||||
| B+/Watch Neg |
B&M European Value Retail S.A. |
Retail/restaurants | Yes | Luxembourg | ||||||||||
| B+/Watch Neg |
Banijay Group SAS |
Media and entertainment | France | |||||||||||
| B+/Watch Neg |
Boyd Gaming Corp. |
Media and entertainment | U.S. | |||||||||||
| B+/Watch Neg |
Brinker International Inc. |
Retail/restaurants | U.S. | |||||||||||
| B+/Watch Neg |
CCM Merger Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Watch Neg |
Caesars Entertainment Corp. |
Media and entertainment | U.S. | |||||||||||
| B+/Watch Neg |
Callaway Golf Co. |
Consumer products | Yes | U.S. | ||||||||||
| B+/Watch Neg |
Cedar Fair L.P. |
Media and entertainment | Yes | U.S. | ||||||||||
| B+/Watch Neg |
CityCenter Holdings LLC |
Media and entertainment | U.S. | |||||||||||
| B+/Watch Neg |
Clearwater Seafoods Inc. |
Consumer products | Canada | |||||||||||
| B+/Watch Neg |
Connect Bidco Ltd. |
Telecommunications | Guernsey | |||||||||||
| B+/Watch Neg |
Cornerstone Building Brands Inc |
Forest products and building materials | Yes | U.S. | ||||||||||
| B+/Watch Neg |
Eldorado Resorts Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Watch Neg |
Emerald X Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Watch Neg |
GBT JerseyCo Ltd. |
Media and entertainment | U.K. | |||||||||||
| B+/Watch Neg |
Gamenet Group S.p.A. |
Media and entertainment | Italy | |||||||||||
| B+/Watch Neg |
Hanger Inc. |
Health care | Yes | U.S. | ||||||||||
| B+/Watch Neg |
Mexarrend, S.A.P.I. de C.V. |
Financial institutions | Mexico | |||||||||||
| B+/Watch Neg |
National CineMedia Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Watch Neg |
Novem Group GmbH |
Automotive | Yes | Germany | ||||||||||
| B+/Watch Neg |
Performance Food Group Inc. |
Consumer products | U.S. | |||||||||||
| B+/Watch Neg |
Six Flags Entertainment Corp. |
Media and entertainment | U.S. | |||||||||||
| B+/Watch Neg |
Station Casinos LLC |
Media and entertainment | U.S. | |||||||||||
| B+/Watch Neg |
Tata Chemicals North America Inc. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| B+/Watch Neg |
Twin River Worldwide Holdings Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Negative |
21Vianet Group Inc. |
High technology | China | |||||||||||
| B+/Negative |
361 Degrees International Ltd. |
Consumer products | Cayman Islands | |||||||||||
| B+/Negative |
4finance Holding S.A. |
Financial institutions | Yes | Luxembourg | ||||||||||
| B+/Negative |
ADES International Holdings PLC |
Oil and gas | Yes | U.A.E. | ||||||||||
| B+/Negative |
Aernnova Aerospace Corp. S.A. |
Aerospace and defense | Yes | Spain | ||||||||||
| B+/Negative |
African Bank Ltd. |
Financial institutions | South Africa | |||||||||||
| B+/Negative |
Apollo Commercial Real Estate Finance Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| B+/Negative |
Aria Energy Operating LLC |
Aria Energy LLC |
Merchant | U.S. | ||||||||||
| B+/Negative |
B&G Foods Inc. |
Consumer products | U.S. | |||||||||||
| B+/Negative |
B2Holding ASA |
Financial institutions | Yes | Norway | ||||||||||
| B+/Negative |
BCP Renaissance Parent L.L.C. |
Midstream | U.S. | |||||||||||
| B+/Negative |
Bed Bath & Beyond Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| B+/Negative |
Blackstone Mortgage Trust Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| B+/Negative |
Bright Horizons Family Solutions LLC |
Bright Horizons Capital Corp. |
Media and entertainment | Yes | U.S. | |||||||||
| B+/Negative |
CAA Holdings LLC |
Media and entertainment | U.S. | |||||||||||
| B+/Negative |
CEVA Logistics AG |
Transportation | Switzerland | |||||||||||
| B+/Negative |
CMA CGM S.A. |
Transportation | France | |||||||||||
| B+/Negative |
CNX Resources Corp. |
Oil and gas | U.S. | |||||||||||
| B+/Negative |
Caleres Inc. |
Consumer products | U.S. | |||||||||||
| B+/Negative |
Ceridian HCM Holding Inc. |
Ceridian LLC |
High technology | Yes | U.S. | |||||||||
| B+/Negative |
China SCE Group Holdings Ltd. |
Homebuilders/real estate companies | Yes | Cayman Islands | ||||||||||
| B+/Negative |
Cimpress plc |
Media and entertainment | Netherlands | |||||||||||
| B+/Negative |
Claros Mortgage Trust Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| B+/Negative |
Concord New Energy Group Ltd. |
Utilities | Yes | Bermuda | ||||||||||
| B+/Negative |
Conduent Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Negative |
Core & Main LP |
Forest products and building materials | U.S. | |||||||||||
| B+/Negative |
Donnelley Financial Solutions Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B+/Negative |
ENERGO-PRO a.s. |
Utilities | Czech Republic | |||||||||||
| B+/Negative |
FAGE International S.A |
Consumer products | Luxembourg | |||||||||||
| B+/Negative |
FirstRand Ltd. |
Financial institutions | South Africa | |||||||||||
| B+/Negative |
Frontera Energy Corp. |
Oil and gas | Yes | Canada | ||||||||||
| B+/Negative |
Garfunkelux Holdco 2 S.A. |
Financial institutions | Luxembourg | |||||||||||
| B+/Negative |
GeoPark Ltd. |
Oil and gas | Yes | Bermuda | ||||||||||
| B+/Negative |
The Goodyear Tire & Rubber Co. |
Automotive | Yes | U.S. | ||||||||||
| B+/Negative |
Hostess Brands Inc. |
Consumer products | U.S. | |||||||||||
| B+/Negative |
Jamaica |
Sovereign | Yes | Jamaica | ||||||||||
| B+/Negative |
K+S AG |
Chemicals, packaging, and environmental services | Germany | |||||||||||
| B+/Negative |
KWG Group Holdings Ltd. |
Homebuilders/real estate companies | Cayman Islands | |||||||||||
| B+/Negative |
Ken Garff Automotive LLC |
Automotive | Yes | U.S. | ||||||||||
| B+/Negative |
Kontoor Brands Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B+/Negative |
Kraton Corp. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| B+/Negative |
Kratos Defense & Security Solutions Inc. |
Aerospace and defense | U.S. | |||||||||||
| B+/Negative |
L Brands Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B+/Negative |
Limetree Bay Terminals, LLC |
Midstream | U.S. | |||||||||||
| B+/Negative |
Loancore Capital Markets LLC |
Financial institutions | Yes | U.S. | ||||||||||
| B+/Negative |
MI Windows and Doors, LLC |
Forest products and building materials | Yes | U.S. | ||||||||||
| B+/Negative |
Mack-Cali Realty Corp. |
Homebuilders/real estate companies | U.S. | |||||||||||
| B+/Negative |
Macy's Inc. |
Retail/restaurants | U.S. | |||||||||||
| B+/Negative |
Magnolia Oil & Gas Corp. |
Oil and gas | Yes | U.S. | ||||||||||
| B+/Negative |
Mattel Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Negative |
Mercer International Inc. |
Forest products and building materials | Yes | U.S. | ||||||||||
| B+/Negative |
Metro-Goldwyn-Mayer Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Negative |
Miller Homes Group Holdings PLC |
Homebuilders/real estate companies | Yes | U.K. | ||||||||||
| B+/Negative |
Momentive Performance Materials Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B+/Negative |
NGL Energy Partners LP |
Midstream | U.S. | |||||||||||
| B+/Negative |
NewDay Group (Jersey) Ltd. |
Financial institutions | Yes | U.K. | ||||||||||
| B+/Negative |
O-I Glass Inc. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| B+/Negative |
Oceaneering International Inc. |
Oil and gas | U.S. | |||||||||||
| B+/Negative |
Outfront Media Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B+/Negative |
PT Medco Energi Internasional Tbk. |
Oil and gas | Indonesia | |||||||||||
| B+/Negative |
Peer Holding III B.V. |
Retail/restaurants | Yes | Netherlands | ||||||||||
| B+/Negative |
Piaggio & C. SpA |
Automotive | Italy | |||||||||||
| B+/Negative |
Plantronics Inc. |
High technology | Yes | U.S. | ||||||||||
| B+/Negative |
Polaris Intermediate Corp. (d/b/a Multiplan) |
Health care | Yes | U.S. | ||||||||||
| B+/Negative |
Press Metal Aluminium Holdings Bhd. |
Metals, mining, and steel | Malaysia | |||||||||||
| B+/Negative |
Quad/Graphics Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Negative |
Realogy Group LLC |
Media and entertainment | U.S. | |||||||||||
| B+/Negative |
Costa Rica |
Sovereign | Costa Rica | |||||||||||
| B+/Negative |
Resolute Forest Products Inc. |
Forest products and building materials | U.S. | |||||||||||
| B+/Negative |
Resolute Investment Managers Inc. |
American Beacon Advisors Inc. |
Financial institutions | U.S. | ||||||||||
| B+/Negative |
Revere Power, LLC |
Merchant | Yes | U.S. | ||||||||||
| B+/Negative |
Reynolds Group Holdings Ltd. |
Chemicals, packaging, and environmental services | Yes | New Zealand | ||||||||||
| B+/Negative |
Rockpoint Gas Storage Partners LP |
Midstream | U.S. | |||||||||||
| B+/Negative |
Ruby Pipeline LLC |
Midstream | Yes | U.S. | ||||||||||
| B+/Negative |
STV Group Inc. |
Capital goods | Yes | U.S. | ||||||||||
| B+/Negative |
Sabre Corp. |
Media and entertainment | U.S. | |||||||||||
| B+/Negative |
Sazka Group A.S. |
Media and entertainment | Czech Republic | |||||||||||
| B+/Negative |
Shea Homes L.P. |
Forest products and building materials | Yes | U.S. | ||||||||||
| B+/Negative |
Sibanye Gold Ltd. |
Metals, mining, and steel | South Africa | |||||||||||
| B+/Negative |
The Simply Good Foods Co. |
Consumer products | U.S. | |||||||||||
| B+/Negative |
Sisal Group S.p.A |
Schumann S.p.A. |
Media and entertainment | Italy | ||||||||||
| B+/Negative |
Sotheby's |
Retail/restaurants | Yes | U.S. | ||||||||||
| B+/Negative |
Staples Inc. |
Media and entertainment | U.S. | |||||||||||
| B+/Negative |
Stena AB |
Oil and gas | Yes | Sweden | ||||||||||
| B+/Negative |
Synlab Unsecured Bondco PLC |
Health care | Yes | Germany | ||||||||||
| B+/Negative |
Tata Steel Ltd. |
Tata Sons Pte. Ltd. |
Metals, mining, and steel | Yes | India | |||||||||
| B+/Negative |
Techem Verwaltungsgesellschaft 674 mbH |
Consumer products | Germany | |||||||||||
| B+/Negative |
The Chemours Company Co. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B+/Negative |
TransDigm Inc. |
Aerospace and defense | Yes | U.S. | ||||||||||
| B+/Negative |
Traverse Midstream Partners LLC |
Midstream | U.S. | |||||||||||
| B+/Negative |
Turning Point Brands Inc. |
Consumer products | U.S. | |||||||||||
| B+/Negative |
USA Compression Partners, LP |
Midstream | Yes | U.S. | ||||||||||
| B+/Negative |
Unigel Participacoes S.A. |
Chemicals, packaging, and environmental services | Yes | Brazil | ||||||||||
| B+/Negative |
Waste Pro USA Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B+/Negative |
Winnebago Industries Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B+/Negative |
Yuzhou Properties Co. Ltd. |
Homebuilders/real estate companies | Cayman Islands | |||||||||||
| B+/Negative |
eHi Car Services Ltd. |
Transportation | Cayman Islands | |||||||||||
| B/Watch Neg |
ADMI Corp. |
Health care | Yes | U.S. | ||||||||||
| B/Watch Neg |
AP Gaming Holdings LLC |
Media and entertainment | U.S. | |||||||||||
| B/Watch Neg |
Acadia Healthcare Co. Inc. |
Health care | U.S. | |||||||||||
| B/Watch Neg |
American Airlines Group Inc. |
Transportation | U.S. | |||||||||||
| B/Watch Neg |
Amigo Loans Ltd. |
Financial institutions | U.K. | |||||||||||
| B/Watch Neg |
Athletico Holdings LLC |
Health care | Yes | U.S. | ||||||||||
| B/Watch Neg |
Autokiniton US Holdings Inc. |
Automotive | Yes | U.S. | ||||||||||
| B/Watch Neg |
CPG International LLC d/b/a/ The Azek Company |
Forest products and building materials | Yes | U.S. | ||||||||||
| B/Watch Neg |
Calceus Acquisition Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B/Watch Neg |
Cineworld Group PLC |
Media and entertainment | U.K. | |||||||||||
| B/Watch Neg |
Compuware Corp. |
High technology | U.S. | |||||||||||
| B/Watch Neg |
Coty Inc. |
Consumer products | U.S. | |||||||||||
| B/Watch Neg |
EmployBridge Holding Co. |
Media and entertainment | Yes | U.S. | ||||||||||
| B/Watch Neg |
Everi Payments Inc. |
Media and entertainment | U.S. | |||||||||||
| B/Watch Neg |
Fender Musical Instruments Corp. |
Consumer products | Yes | U.S. | ||||||||||
| B/Watch Neg |
Fossil Group Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B/Watch Neg |
Go Wireless Holdings Inc. |
Retail/restaurants | U.S. | |||||||||||
| B/Watch Neg |
Golden Entertainment Inc. |
Media and entertainment | U.S. | |||||||||||
| B/Watch Neg |
IXS Holdings Inc. |
Automotive | Yes | U.S. | ||||||||||
| B/Watch Neg |
Ilpea Parent Inc. |
Capital goods | Yes | U.S. | ||||||||||
| B/Watch Neg |
Joye Media SLU |
Media and entertainment | Yes | Spain | ||||||||||
| B/Watch Neg |
KAR Auction Services Inc. |
Automotive | Yes | U.S. | ||||||||||
| B/Watch Neg |
Koos Holding Cooperatief U.A. |
Media and entertainment | Yes | Netherlands | ||||||||||
| B/Watch Neg |
Korean Air Lines Co. Ltd. |
Transportation | Korea, Republic of | |||||||||||
| B/Watch Neg |
LSF9 Atlantis Holdings, LLC |
Retail/restaurants | U.S. | |||||||||||
| B/Watch Neg |
Lindblad Expeditions Holdings Inc. |
Media and entertainment | U.S. | |||||||||||
| B/Watch Neg |
MRC Global (US) Inc. |
McJunkin Red Man Holding Corp. |
Metals, mining, and steel | U.S. | ||||||||||
| B/Watch Neg |
Metinvest B.V. |
Metals, mining, and steel | Yes | Netherlands | ||||||||||
| B/Watch Neg |
Motion Midco Ltd |
Media and entertainment | Yes | U.K. | ||||||||||
| B/Watch Neg |
Navistar International Corp. |
Automotive | Yes | U.S. | ||||||||||
| B/Watch Neg |
New Enterprise Stone & Lime Co. Inc. |
Forest products and building materials | Yes | U.S. | ||||||||||
| B/Watch Neg |
Park-Ohio Industries Inc. |
Capital goods | Yes | U.S. | ||||||||||
| B/Watch Neg |
Penn National Gaming Inc. |
Media and entertainment | U.S. | |||||||||||
| B/Watch Neg |
PlayPower Holdings Inc. |
Media and entertainment | U.S. | |||||||||||
| B/Watch Neg |
Playa Hotels & Resorts N.V. |
Media and entertainment | Netherlands | |||||||||||
| B/Watch Neg |
Recess Holdings Inc. |
Media and entertainment | U.S. | |||||||||||
| B/Watch Neg |
Scientific Games Corp. |
Media and entertainment | U.S. | |||||||||||
| B/Watch Neg |
Screenvision, LLC |
Media and entertainment | U.S. | |||||||||||
| B/Watch Neg |
Tendam Brands S.A.U. |
Consumer products | Yes | Spain | ||||||||||
| B/Watch Neg |
Tenneco Inc. |
Automotive | Yes | U.S. | ||||||||||
| B/Watch Neg |
The Knot Worldwide Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B/Watch Neg |
Third Coast Midstream, LLC |
Midstream | Yes | U.S. | ||||||||||
| B/Watch Neg |
Tivity Health Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B/Watch Neg |
Trader Corp. |
Consumer products | Yes | Canada | ||||||||||
| B/Watch Neg |
Transportes Aereos Portugueses, SGPS, S.A. |
Transportation | Portugal | |||||||||||
| B/Watch Neg |
Travel Leaders Group LLC |
Media and entertainment | U.S. | |||||||||||
| B/Watch Neg |
UC Holdings Inc. |
Chassix Holdings Inc. |
Automotive | Yes | U.S. | |||||||||
| B/Watch Neg |
UFC Holdings LLC |
Endeavor Operating Company LLC |
Media and entertainment | Yes | U.S. | |||||||||
| B/Watch Neg | Upstream Newco Inc. | Health care | Yes | U.S. | ||||||||||
| B/Watch Neg |
Viking Cruises Ltd. |
Viking Holdings Ltd |
Media and entertainment | U.S. | ||||||||||
| B/Watch Neg |
Voyager Aviation Holdings LLC |
Transportation | Yes | U.S. | ||||||||||
| B/Watch Neg |
WestJet Airlines Ltd. |
Transportation | Canada | |||||||||||
| B/Watch Neg |
Zest Acquisition Corp. |
Health care | Yes | U.S. | ||||||||||
| B/Watch Neg |
eDreams ODIGEO S.A. |
Media and entertainment | Luxembourg | |||||||||||
| B/Negative |
AI Convoy (Luxembourg) S.a.r.l. |
Aerospace and defense | Yes | U.K. | ||||||||||
| B/Negative |
AI Ladder (Luxembourg) Subco S.a.r.l. |
High technology | Yes | Luxembourg | ||||||||||
| B/Negative |
AIS HoldCo LLC |
Insurance | Yes | U.S. | ||||||||||
| B/Negative |
Achilles Acquisition LLC (d/b/a OneDigital) |
Insurance | Yes | U.S. | ||||||||||
| B/Negative |
Ai Sirona (Luxembourg) Acquisition Sarl |
Health care | Luxembourg | |||||||||||
| B/Negative |
Albaraka Turk Katilim Bankasi AS |
Al Baraka Banking Group B.S.C. |
Financial institutions | Yes | Turkey | |||||||||
| B/Negative |
Alera Group Intermediate Holdings Inc. |
Insurance | Yes | U.S. | ||||||||||
| B/Negative |
Altice Europe N.V. |
Telecommunications | Netherlands | |||||||||||
| B/Negative |
American Bath Group, LLC |
Forest products and building materials | Yes | U.S. | ||||||||||
| B/Negative |
Amneal Pharmaceuticals LLC |
Amneal Pharmaceuticals Inc. |
Health care | U.S. | ||||||||||
| B/Negative |
Arab Tunisian Bank |
Arab Bank Group |
Financial institutions | Tunisia | ||||||||||
| B/Negative |
Arbor Pharmaceuticals Inc. |
Health care | U.S. | |||||||||||
| B/Negative |
Athena Bidco GmbH |
High technology | Yes | Germany | ||||||||||
| B/Negative |
Auris Luxembourg II S.a.r.l. |
Health care | Luxembourg | |||||||||||
| B/Negative |
Authentic Brands Group LLC |
Consumer products | Yes | U.S. | ||||||||||
| B/Negative |
BCP VII Jade Topco (Cayman) Ltd. |
Chemicals, packaging, and environmental services | Yes | U.K. | ||||||||||
| B/Negative |
BCPE Empire Holdings Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B/Negative |
Baytex Energy Corp. |
Oil and gas | Yes | Canada | ||||||||||
| B/Negative |
Bojangles' Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| B/Negative |
CD&R Firefly 4 Ltd. (Motor Fuel Group) |
Retail/restaurants | U.K. | |||||||||||
| B/Negative |
CES Energy Solutions Corp. |
Oil and gas | Yes | Canada | ||||||||||
| B/Negative |
CNT Holdings III Corp. |
Retail/restaurants | U.S. | |||||||||||
| B/Negative |
Caldic Midco B.V. |
Chemicals, packaging, and environmental services | Netherlands | |||||||||||
| B/Negative |
Carestream Dental Parent Ltd. |
Health care | Yes | U.K. | ||||||||||
| B/Negative |
Carriage Services Inc. |
Health care | U.S. | |||||||||||
| B/Negative |
Casino Guichard - Perrachon S.A. |
Retail/restaurants | France | |||||||||||
| B/Negative | Clarity Telecom LLC | Telecommunications | U.S. | |||||||||||
| B/Negative |
CommScope Holding Co. Inc. |
High technology | Yes | U.S. | ||||||||||
| B/Negative |
Consolidated Communications Holdings Inc. |
Telecommunications | U.S. | |||||||||||
| B/Negative |
Corelle Brands Holdings Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B/Negative |
DISH Network Corp. |
Telecommunications | U.S. | |||||||||||
| B/Negative |
DLG Acquisitions Ltd. |
Media and entertainment | Yes | U.K. | ||||||||||
| B/Negative |
Damac Real Estate Development Ltd. |
Homebuilders/real estate companies | U.A.E. | |||||||||||
| B/Negative |
Dawn Acquisitions LLC |
Infra Colodata Holdings LLC |
Homebuilders/real estate companies | U.S. | ||||||||||
| B/Negative |
Sri Lanka |
Sovereign | Sri Lanka | |||||||||||
| B/Negative |
Dhanani Group Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| B/Negative |
R.R. Donnelley & Sons Co. |
Media and entertainment | U.S. | |||||||||||
| B/Negative |
Drive Chassis Holdco, LLC |
Transportation | U.S. | |||||||||||
| B/Negative |
EG Group Ltd. |
Consumer products | U.K. | |||||||||||
| B/Negative |
ENC Holding Corp. |
ENC Parent Corp. |
Transportation | Yes | U.S. | |||||||||
| B/Negative |
EVOCA S.p.A. |
Consumer products | Yes | Italy | ||||||||||
| B/Negative |
Edelman Financial Engines Center, LLC (The) |
Financial institutions | U.S. | |||||||||||
| B/Negative |
Electro Rent Corp. |
Capital goods | U.S. | |||||||||||
| B/Negative |
Element Materials Technology Ltd. |
Consumer products | U.K. | |||||||||||
| B/Negative |
Elo Touch Solutions Inc. |
High technology | U.S. | |||||||||||
| B/Negative |
Endo International PLC |
Health care | Ireland | |||||||||||
| B/Negative |
Entercom Communications Corp. |
Media and entertainment | Yes | U.S. | ||||||||||
| B/Negative |
Epic Crude Services, LP |
EPIC Midstream Holdings, LP |
Midstream | U.S. | ||||||||||
| B/Negative |
Ezdan Holding Group Q.S.C. |
Homebuilders/real estate companies | Qatar | |||||||||||
| B/Negative |
Ethiopia |
Sovereign | Yes | Ethiopia | ||||||||||
| B/Negative |
Financiere Colisee SAS |
Health care | France | |||||||||||
| B/Negative |
Financiere N |
Health care | France | |||||||||||
| B/Negative |
Financiere Top Mendel SAS |
Health care | Yes | France | ||||||||||
| B/Negative |
Flex Acquisition Holdings Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B/Negative |
Flynn Restaurant Group LP |
Retail/restaurants | U.S. | |||||||||||
| B/Negative |
GEMS Menasa Holdings Ltd. (Cayman islands) |
GEMS Menasa Holdings Ltd. (Cayman islands) |
Consumer products | Yes | U.A.E. | |||||||||
| B/Negative |
Genesis Care Pty Ltd. |
Health care | Australia | |||||||||||
| B/Negative |
Goldcup Holdings Inc. |
Explorer Holdings Inc |
Health care | U.S. | ||||||||||
| B/Negative |
Gran Tierra Energy Inc. |
Oil and gas | Yes | U.S. | ||||||||||
| B/Negative |
Green Country Energy LLC |
Utilities | U.S. | |||||||||||
| B/Negative |
Hayward Industries Inc. |
Consumer products | U.S. | |||||||||||
| B/Negative |
Henry Holdings Inc. |
Henry Co. LLC |
Forest products and building materials | Yes | U.S. | |||||||||
| B/Negative |
High Liner Foods Inc. |
Consumer products | Yes | Canada | ||||||||||
| B/Negative |
House of HR NV |
Consumer products | Yes | Belgium | ||||||||||
| B/Negative |
HudBay Minerals Inc. |
Metals, mining, and steel | Canada | |||||||||||
| B/Negative |
Hyster-Yale Materials Handling Inc. |
Capital goods | Yes | U.S. | ||||||||||
| B/Negative |
IWH UK Finco Ltd. |
Health care | U.K. | |||||||||||
| B/Negative |
Indivior plc |
Health care | U.K. | |||||||||||
| B/Negative |
Inmar Inc. |
Consumer products | U.S. | |||||||||||
| B/Negative |
Inspire Brands Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| B/Negative |
International Design Group SpA |
Consumer products | Yes | Italy | ||||||||||
| B/Negative |
Jaguar Land Rover Automotive PLC |
Tata Sons Pte. Ltd. |
Automotive | Yes | U.K. | |||||||||
| B/Negative |
Jiayuan International Group Ltd. |
Homebuilders/real estate companies | China | |||||||||||
| B/Negative |
Jingrui Holdings Ltd. |
Homebuilders/real estate companies | Cayman Islands | |||||||||||
| B/Negative |
KAPLA Holding (Kiloutou) |
Capital goods | Yes | France | ||||||||||
| B/Negative |
Keystone Acquisition Corp. |
Insurance | U.S. | |||||||||||
| B/Negative |
Kiwi VFS SUB I S.ar.l |
Consumer products | Yes | Luxembourg | ||||||||||
| B/Negative |
Koppers Holdings Inc. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| B/Negative |
Kosmos Energy Finance International |
Oil and gas | Yes | U.S. | ||||||||||
| B/Negative |
LABL Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B/Negative |
LSF10 Edilians Investments S.a.r.l. |
Forest products and building materials | Yes | France | ||||||||||
| B/Negative |
LSF10 Wolverine Investments SCA |
Forest products and building materials | France | |||||||||||
| B/Negative |
LSFX Flavum Bidco S.A. |
Forest products and building materials | Yes | Spain | ||||||||||
| B/Negative |
La Financiere Atalian SAS |
Consumer products | France | |||||||||||
| B/Negative |
Latham Pool Products Inc. |
Consumer products | U.S. | |||||||||||
| B/Negative |
LifeScan Global Corp. |
Health care | U.S. | |||||||||||
| B/Negative |
Lifetime Brands Inc. |
Consumer products | U.S. | |||||||||||
| B/Negative |
Loire UK Midco 3 (LGC) |
Consumer products | Yes | U.K. | ||||||||||
| B/Negative |
Loxam SAS |
Capital goods | France | |||||||||||
| B/Negative |
Lucid Energy Group II Borrower, LLC |
Lucid Energy Group II, LLC |
Midstream | Yes | U.S. | |||||||||
| B/Negative |
MRO Holdings Inc. |
Aerospace and defense | Yes | Panama | ||||||||||
| B/Negative |
Mauser Packaging Solutions Holding Co. |
BOE Intermediate Holding Corp. |
Chemicals, packaging, and environmental services | Yes | U.S. | |||||||||
| B/Negative |
Maxim Crane Works Holdings Capital LLC |
Capital goods | U.S. | |||||||||||
| B/Negative |
Mercury Parent, LLC |
Health care | U.S. | |||||||||||
| B/Negative |
The Michaels Companies Inc. |
Retail/restaurants | U.S. | |||||||||||
| B/Negative |
MoneyGram International |
Financial institutions | Yes | U.S. | ||||||||||
| B/Negative |
Mr. Cooper Group Inc. |
Financial institutions | Yes | U.S. | ||||||||||
| B/Negative |
NFP Corp. |
National Financial Partners Holdings A Corp. |
Insurance | Yes | U.S. | |||||||||
| B/Negative |
NFP Holdings, LLC |
Insurance | Yes | U.S. | ||||||||||
| B/Negative |
Natural Resource Partners L.P. |
Metals, mining, and steel | Yes | U.S. | ||||||||||
| B/Negative |
Navios Maritime Holdings Inc. |
Transportation | Yes | Marshall Islands | ||||||||||
| B/Negative |
Neptune Holdco S.a.r.l. |
Forest products and building materials | Yes | Luxembourg | ||||||||||
| B/Negative |
NexTier Oilfield Solutions Inc. |
Oil and gas | Yes | U.S. | ||||||||||
| B/Negative |
Oak Holdings LLC |
Consumer products | U.S. | |||||||||||
| B/Negative |
Oi S.A. |
Telecommunications | Brazil | |||||||||||
| B/Negative |
Outdoor Home Services Holdings LLC |
Consumer products | U.S. | |||||||||||
| B/Negative |
PDC Beauty & Wellness Co. |
Consumer products | U.S. | |||||||||||
| B/Negative |
PHM Netherlands Midco B.V. |
Forest products and building materials | Netherlands | |||||||||||
| B/Negative |
PS HoldCo LLC |
Transportation | Yes | U.S. | ||||||||||
| B/Negative |
PT Kawasan Industri Jababeka Tbk. |
Homebuilders/real estate companies | Indonesia | |||||||||||
| B/Negative |
Peraton Corp. |
Aerospace and defense | U.S. | |||||||||||
| B/Negative |
Pioneer UK Midco 1 Limited |
Health care | U.S. | |||||||||||
| B/Negative |
Placin Sarl |
Consumer products | Spain | |||||||||||
| B/Negative |
Platin 1425. GmbH |
Capital goods | Germany | |||||||||||
| B/Negative |
Populus Financial Group Inc |
Financial institutions | U.S. | |||||||||||
| B/Negative |
Precision Drilling Corp. |
Precision Drilling Trust |
Oil and gas | Yes | Canada | |||||||||
| B/Negative | PriSo Acquisition Corp. | Forest products and building materials | Yes | U.S. | ||||||||||
| B/Negative |
QEP Resources Inc. |
Oil and gas | U.S. | |||||||||||
| B/Negative |
Radio Systems Corp. |
Consumer products | Yes | U.S. | ||||||||||
| B/Negative |
Radiology Partners Holdings, LLC |
Health care | U.S. | |||||||||||
| B/Negative |
Range Resources Corp. |
Oil and gas | U.S. | |||||||||||
| B/Negative |
Rekeep S.p.A. |
Consumer products | Yes | Italy | ||||||||||
| B/Negative |
Rockwood Service Corp. |
Capital goods | Yes | U.S. | ||||||||||
| B/Negative |
Rough Country LLC |
Automotive | U.S. | |||||||||||
| B/Negative |
Ryerson Holding Corp. |
Metals, mining, and steel | Yes | U.S. | ||||||||||
| B/Negative |
Ryman Hospitality Properties Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B/Negative |
SRS Distribution Inc. |
Forest products and building materials | U.S. | |||||||||||
| B/Negative |
SSH Holdings Inc. d/b/a Spencer Spirit |
Retail/restaurants | Yes | U.S. | ||||||||||
| B/Negative |
Saffron Borrowco, LLC |
Retail/restaurants | U.S. | |||||||||||
| B/Negative |
Schur Flexibles GmbH |
Chemicals, packaging, and environmental services | Germany | |||||||||||
| B/Negative |
Seplat Petroleum Development Co. PLC |
Oil and gas | Yes | Nigeria | ||||||||||
| B/Negative |
Shandong Sanxing Group Co. Ltd. |
Consumer products | Yes | China | ||||||||||
| B/Negative |
Soco 1 |
Media and entertainment | France | |||||||||||
| B/Negative |
Sound Inpatient Physicians Holdings, LLC |
Health care | U.S. | |||||||||||
| B/Negative |
Spectrum Brands Holdings Inc. |
Consumer products | U.S. | |||||||||||
| B/Negative |
Stellagroup |
Polaris Holding |
Forest products and building materials | Yes | France | |||||||||
| B/Negative |
Summit Midstream Partners, LP |
Midstream | U.S. | |||||||||||
| B/Negative |
Superior Industries International Inc. |
Automotive | U.S. | |||||||||||
| B/Negative |
THOM Europe S.A.S. |
Retail/restaurants | Yes | France | ||||||||||
| B/Negative |
Talen Energy Supply LLC |
Talen Energy Corp. |
IPP | U.S. | ||||||||||
| B/Negative |
TecoStar Holdings Inc. |
Health care | Yes | U.S. | ||||||||||
| B/Negative |
Teine Energy Ltd. |
Oil and gas | Yes | Canada | ||||||||||
| B/Negative |
The Cook & Boardman Group, LLC |
Forest products and building materials | U.S. | |||||||||||
| B/Negative |
The Schumacher Group of Delaware Inc. |
Clinical Acquisitions Holdings LP |
Health care | Yes | U.S. | |||||||||
| B/Negative |
Thermon Group Holdings Inc. |
Capital goods | Yes | U.S. | ||||||||||
| B/Negative |
Tortoise Parent Holdco LLC |
Financial institutions | U.S. | |||||||||||
| B/Negative |
Trico Group LLC |
Automotive | Yes | U.S. | ||||||||||
| B/Negative |
Trinseo S.A. |
Chemicals, packaging, and environmental services | Yes | Luxembourg | ||||||||||
| B/Negative |
Tronox Ltd. |
Chemicals, packaging, and environmental services | Yes | Australia | ||||||||||
| B/Negative |
Tutor Perini Corp. |
Capital goods | U.S. | |||||||||||
| B/Negative |
United Natural Foods Inc. |
Retail/restaurants | U.S. | |||||||||||
| B/Negative |
Walnut Bidco PLC |
Consumer products | Yes | Switzerland | ||||||||||
| B/Negative |
Wendy's Co. (The) |
Retail/restaurants | Yes | U.S. | ||||||||||
| B/Negative |
Xinhu Zhongbao Co. Ltd. |
Homebuilders/real estate companies | China | |||||||||||
| B/Negative |
Xinjiang Guanghui Industry Investment (Group) Co. Ltd. |
Homebuilders/real estate companies | China | |||||||||||
| B/Negative |
Zara UK Topco Ltd. |
Consumer products | U.K. | |||||||||||
| B/Negative |
iHeartMedia Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B-/Watch Neg |
18 Fremont Street Acquisition, LLC |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
AAG FH LP |
Retail/restaurants | Yes | Canada | ||||||||||
| B-/Watch Neg |
APCO Super Holdco LP |
Insurance | Yes | U.S. | ||||||||||
| B-/Watch Neg |
ATI Holdings Acquisition Inc. |
Health care | Yes | U.S. | ||||||||||
| B-/Watch Neg |
AVSC Holding Corp. |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
Adler Pelzer Holding GmbH |
Automotive | Yes | Germany | ||||||||||
| B-/Watch Neg |
Affinity Gaming |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
AgroFresh Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B-/Watch Neg |
Airxcel Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
Algoma Steel Inc. |
Metals, mining, and steel | Yes | Canada | ||||||||||
| B-/Watch Neg |
Alliance HealthCare Services |
Health care | U.S. | |||||||||||
| B-/Watch Neg |
American Dental Partners Inc. |
Health care | Yes | U.S. | ||||||||||
| B-/Watch Neg |
BURGER KING France SAS |
NewCo GB SAS (Burger King France) |
Retail/restaurants | Yes | France | |||||||||
| B-/Watch Neg |
Banff Parent Inc. |
High technology | U.S. | |||||||||||
| B-/Watch Neg |
CWGS Enterprises LLC |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
Carestream Health Inc. |
Health care | U.S. | |||||||||||
| B-/Watch Neg |
Carlson Travel Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
Casper MidCo SAS |
Media and entertainment | France | |||||||||||
| B-/Watch Neg |
Century Casinos Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
The Chefs' Warehouse Inc. |
Consumer products | U.S. | |||||||||||
| B-/Watch Neg |
Comet Bidco Ltd. |
Media and entertainment | U.K. | |||||||||||
| B-/Watch Neg |
Companhia Siderurgica Nacional |
Metals, mining, and steel | Yes | Brazil | ||||||||||
| B-/Watch Neg |
Compania General de Combustibles S.A. |
Oil and gas | Argentina | |||||||||||
| B-/Watch Neg |
Confie Seguros Holding Co. |
Insurance | Yes | U.S. | ||||||||||
| B-/Watch Neg |
Confluent Health LLC |
Health care | Yes | U.S. | ||||||||||
| B-/Watch Neg |
Container Store Group Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| B-/Watch Neg |
Covenant Surgical Partners Inc. |
Health care | U.S. | |||||||||||
| B-/Watch Neg |
Dentalcorp Health Services ULC |
Health care | Yes | Canada | ||||||||||
| B-/Watch Neg |
Digital Room Holdings Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B-/Watch Neg |
Edward Don & Co. Holdings LLC |
Consumer products | U.S. | |||||||||||
| B-/Watch Neg |
Europcar Mobility Group |
Media and entertainment | Yes | France | ||||||||||
| B-/Watch Neg |
GI Revelation Acquisition LLC |
High technology | Yes | U.S. | ||||||||||
| B-/Watch Neg |
Hoya Midco, LLC |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
Hubbard Radio LLC |
Media and entertainment | Yes | U.S. | ||||||||||
| B-/Watch Neg |
International Park Holdings B.V. |
Media and entertainment | Yes | Spain | ||||||||||
| B-/Watch Neg |
Jacobs Entertainment Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
KLDiscovery Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B-/Watch Neg |
Kongsberg Automotive ASA |
Automotive | Norway | |||||||||||
| B-/Watch Neg |
Lands' End Inc. |
Consumer products | U.S. | |||||||||||
| B-/Watch Neg |
Mabel Topco Ltd. |
Restaurant Group PLC (The) |
Retail/restaurants | Yes | U.K. | |||||||||
| B-/Watch Neg |
Mohegan Tribal Finance Authority |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
Mohegan Tribal Gaming Authority |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
NEP/NCP Holdco Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
NN Inc. |
Health care | Yes | U.S. | ||||||||||
| B-/Watch Neg |
National Amusements Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
Neenah Foundry Co. |
Neenah Enterprises Inc. |
Metals, mining, and steel | Yes | U.S. | |||||||||
| B-/Watch Neg |
OCWEN Financial Corp. |
Financial institutions | Yes | U.S. | ||||||||||
| B-/Watch Neg |
PT Alam Sutera Realty Tbk. |
Homebuilders/real estate companies | Indonesia | |||||||||||
| B-/Watch Neg |
PT Modernland Realty Tbk. |
Homebuilders/real estate companies | Yes | Indonesia | ||||||||||
| B-/Watch Neg |
Pesquera Exalmar S.A.A. |
Consumer products | Yes | Peru | ||||||||||
| B-/Watch Neg |
Pinnacle Bidco PLC |
Media and entertainment | U.K. | |||||||||||
| B-/Watch Neg |
Piolin Bidco S.A.U. |
Media and entertainment | Yes | Spain | ||||||||||
| B-/Watch Neg |
Pro.Gest SpA |
Forest products and building materials | Italy | |||||||||||
| B-/Watch Neg |
Red Lobster Management LLC |
Red Lobster Intermediate Holdings LLC |
Retail/restaurants | U.S. | ||||||||||
| B-/Watch Neg |
SBP Holding LP |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
SIRVA Inc. |
Consumer products | U.S. | |||||||||||
| B-/Watch Neg |
Spectacle Gary Holdings LLC |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
Sugarhouse HSP Gaming Prop. Mezz. L.P. |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
Surgery Partners Inc. |
Health care | U.S. | |||||||||||
| B-/Watch Neg |
TUI AG |
Media and entertainment | Germany | |||||||||||
| B-/Watch Neg |
Tele Columbus AG |
Telecommunications | Yes | Germany | ||||||||||
| B-/Watch Neg |
The Tensar Corp. |
Forest products and building materials | Yes | U.S. | ||||||||||
| B-/Watch Neg |
The New Home Co. Inc. |
Forest products and building materials | U.S. | |||||||||||
| B-/Watch Neg |
The Octave Music Group Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
Tribe Buyer LLC |
Media and entertainment | U.S. | |||||||||||
| B-/Watch Neg |
URS Holdco Inc. |
Transportation | Yes | U.S. | ||||||||||
| B-/Watch Neg |
Welbilt Inc. |
Capital goods | U.S. | |||||||||||
| B-/Negative |
AES Argentina Generacion S.A |
The AES Corp. |
Utilities | Argentina | ||||||||||
| B-/Negative |
APX Group Holdings Inc. (A/K/A Vivint) |
Media and entertainment | Yes | U.S. | ||||||||||
| B-/Negative | AQ Carver Buyer Inc. | Media and entertainment | Yes | U.S. | ||||||||||
| B-/Negative |
ASP Chromaflo Holdings LP |
Chemicals, packaging, and environmental services | Yes | Cayman Islands | ||||||||||
| B-/Negative | Acropole Holding | Consumer products | France | |||||||||||
| B-/Negative |
Aegis Toxicology Sciences Corp. |
Aegis Acquistion, Inc. |
Health care | U.S. | ||||||||||
| B-/Negative |
Aeropuertos Argentina 2000 S.A. |
Utilities | Argentina | |||||||||||
| B-/Negative |
Afflelou SAS |
Consumer products | Yes | France | ||||||||||
| B-/Negative |
Albany Molecular Research Inc. |
Health care | U.S. | |||||||||||
| B-/Negative |
Alvogen Pharma US Inc. |
Alvogen Lux Holdings S.a.r.l. |
Health care | U.S. | ||||||||||
| B-/Negative |
Amer Sports Holding 1 Oy |
Consumer products | Yes | Finland | ||||||||||
| B-/Negative |
American Renal Associates Holdings Inc. |
Health care | Yes | U.S. | ||||||||||
| B-/Negative |
Amynta Holdings LLC |
Insurance | Yes | U.S. | ||||||||||
| B-/Negative |
Antero Resources Corp. |
Oil and gas | U.S. | |||||||||||
| B-/Negative |
Aspen Jersey Topco LLC |
High technology | Yes | U.S. | ||||||||||
| B-/Negative |
AutoCanada Inc. |
Retail/restaurants | Yes | Canada | ||||||||||
| B-/Negative |
Avalign Holdings Inc. |
Health care | U.S. | |||||||||||
| B-/Negative |
Aventiv Technologies, LLC |
Telecommunications | U.S. | |||||||||||
| B-/Negative |
BEP Ulterra Holdings Inc. |
Oil and gas | Yes | U.S. | ||||||||||
| B-/Negative |
Baffinland Iron Mines Corp. |
Metals, mining, and steel | Canada | |||||||||||
| B-/Negative |
Bahia de las Isletas, S.L. |
Transportation | Spain | |||||||||||
| B-/Negative |
Ball Metalpack Finco LLC |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B-/Negative |
Banco De Galicia Y Buenos Aires S.A.U. |
Financial institutions | Yes | Argentina | ||||||||||
| B-/Negative |
Berry Petroleum Corp. |
Oil and gas | Yes | U.S. | ||||||||||
| B-/Negative |
Boardriders Inc. |
Consumer products | U.S. | |||||||||||
| B-/Negative |
Bowlero Corp. |
Media and entertainment | U.S. | |||||||||||
| B-/Negative |
Brand Industrial Services Inc. |
Capital goods | Yes | U.S. | ||||||||||
| B-/Negative |
Buccaneer Intermediate Holdco Ltd. |
Health care | Yes | U.K. | ||||||||||
| B-/Negative |
CAPEX S.A. |
Utilities | Argentina | |||||||||||
| B-/Negative |
CB Poly Investments, LLC |
Consumer products | Yes | U.S. | ||||||||||
| B-/Negative |
CFS Brands LLC |
Capital goods | U.S. | |||||||||||
| B-/Negative |
CHG PPC Intermediate II LLC |
Consumer products | Yes | U.S. | ||||||||||
| B-/Negative |
CIRCOR International Inc. |
Capital goods | Yes | U.S. | ||||||||||
| B-/Negative |
Callon Petroleum Co. |
Oil and gas | Yes | U.S. | ||||||||||
| B-/Negative |
Calumet Specialty Products Partners L.P. |
Utilities | Yes | U.S. | ||||||||||
| B-/Negative |
Cassini |
Media and entertainment | France | |||||||||||
| B-/Negative |
Cast & Crew Payroll LLC |
Consumer products | Yes | U.S. | ||||||||||
| B-/Negative |
Cengage Learning Holdings II Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B-/Negative |
Cirsa Enterprises S.L.U. |
LHMC Finco 2 S.a.r.l. |
Media and entertainment | Yes | Spain | |||||||||
| B-/Negative |
Cleveland-Cliffs Inc. |
Metals, mining, and steel | Yes | U.S. | ||||||||||
| B-/Negative |
Cohu Inc. |
High technology | Yes | U.S. | ||||||||||
| B-/Negative |
Cologix Holdings Inc. |
Telecommunications | U.S. | |||||||||||
| B-/Negative |
ConvergeOne Holdings Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B-/Negative |
Cooper-Standard Holdings Inc. |
Automotive | U.S. | |||||||||||
| B-/Negative |
Cornerstone Chemical Co. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| B-/Negative |
Corporacion Azucarera del Peru S. A. |
Consumer products | Peru | |||||||||||
| B-/Negative |
DMT Solutions Global Corp. |
Media and entertainment | U.S. | |||||||||||
| B-/Negative |
Daseke Inc |
Transportation | Yes | U.S. | ||||||||||
| B-/Negative |
Diebold Nixdorf Inc. |
High technology | U.S. | |||||||||||
| B-/Negative |
Dunn Paper Holdings Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B-/Negative |
Dynasty Acquisition Co. Inc. |
Aerospace and defense | Yes | U.S. | ||||||||||
| B-/Negative |
ERC Topco Holdings, LLC |
Health care | Yes | U.S. | ||||||||||
| B-/Negative |
EagleView Technology Corp. |
Media and entertainment | U.S. | |||||||||||
| B-/Negative |
Eclipse Midco Inc. |
High technology | Yes | U.S. | ||||||||||
| B-/Negative |
Electronics for Imaging Inc. |
High technology | U.S. | |||||||||||
| B-/Negative |
Ellaktor S.A. |
Utilities | Greece | |||||||||||
| B-/Negative |
EnTrans International LLC |
Automotive | U.S. | |||||||||||
| B-/Negative |
EnVen Energy Corp. |
Oil and gas | U.S. | |||||||||||
| B-/Negative |
Encino Acquisition Partners LLC |
Oil and gas | U.S. | |||||||||||
| B-/Negative |
Energy Holdings (Cayman) Ltd. |
Capital goods | Yes | Cayman Islands | ||||||||||
| B-/Negative |
EnergySolutions Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B-/Negative |
Eyemart Express Holdings LLC |
Retail/restaurants | Yes | U.S. | ||||||||||
| B-/Negative |
First American Payment Systems LP |
High technology | Yes | U.S. | ||||||||||
| B-/Negative |
FleetPride Inc. |
Fastlane Parent Co. Inc. |
Automotive | Yes | U.S. | |||||||||
| B-/Negative |
Forming Machining Industries Holdings, LLC |
Aerospace and defense | U.S. | |||||||||||
| B-/Negative |
Fort Dearborn Holding Co. Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B-/Negative |
Freedom Mortgage Corp. |
Financial institutions | Yes | U.S. | ||||||||||
| B-/Negative |
GC EOS Buyer Inc. |
Automotive | U.S. | |||||||||||
| B-/Negative |
GCI, LLC |
GCI Liberty Inc. |
Telecommunications | U.S. | ||||||||||
| B-/Negative |
Genuine Financial Holdings LLC |
Consumer products | U.S. | |||||||||||
| B-/Negative |
Glass Mountain Pipeline, LLC |
Midstream | U.S. | |||||||||||
| B-/Negative |
Golden Nugget Inc. |
Retail/restaurants | Yes | U.S. | ||||||||||
| B-/Negative |
Greenway Health LLC |
Health care | U.S. | |||||||||||
| B-/Negative |
Grupo Antolin Irausa SA |
Automotive | Spain | |||||||||||
| B-/Negative |
Halo Buyer Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B-/Negative |
Heidelberger Druckmaschinen AG |
Capital goods | Yes | Germany | ||||||||||
| B-/Negative |
Hexion Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B-/Negative |
The Hillman Group Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B-/Negative |
Holley Purchaser Inc. |
Automotive | U.S. | |||||||||||
| B-/Negative |
IM Growth SAS |
Consumer products | Yes | France | ||||||||||
| B-/Negative |
Idemia France SAS |
High technology | France | |||||||||||
| B-/Negative |
Infogroup Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Negative |
Innovative Water Care Global Corp. |
Consumer products | U.S. | |||||||||||
| B-/Negative |
International Seaways Inc. |
Transportation | Yes | Marshall Islands | ||||||||||
| B-/Negative |
Intrado Corp. |
Telecommunications | U.S. | |||||||||||
| B-/Negative |
JMC Acquisition Corp. |
Capital goods | Yes | U.S. | ||||||||||
| B-/Negative |
Jazz Acquisition Inc. |
Wencor Group LLC |
Aerospace and defense | Yes | U.S. | |||||||||
| B-/Negative |
K-Mac Holdings Corp. |
Retail/restaurants | Yes | U.S. | ||||||||||
| B-/Negative |
KNEL Acquisition LLC |
Consumer products | U.S. | |||||||||||
| B-/Negative |
Kleopatra Holdings 1 S.C.A. |
Chemicals, packaging, and environmental services | Luxembourg | |||||||||||
| B-/Negative |
Knowlton Development HoldCo Inc. |
Consumer products | Yes | Canada | ||||||||||
| B-/Negative |
Kronos Worldwide Inc. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| B-/Negative |
L1R HB Finance Ltd |
Retail/restaurants | U.K. | |||||||||||
| B-/Negative |
LJ Ruby Holdings, LLC |
Capital goods | Yes | U.S. | ||||||||||
| B-/Negative |
LSF9 Balta Issuer S.A. |
Consumer products | Yes | Belgium | ||||||||||
| B-/Negative |
Lannett Co. Inc. |
Health care | U.S. | |||||||||||
| B-/Negative |
Laredo Petroleum Inc. |
Oil and gas | U.S. | |||||||||||
| B-/Negative |
Livingston International Inc. |
Consumer products | Yes | Canada | ||||||||||
| B-/Negative |
Marcolin SpA |
Consumer products | Yes | Italy | ||||||||||
| B-/Negative |
Matador Resources Co. |
Oil and gas | Yes | U.S. | ||||||||||
| B-/Negative |
Mavis Tire Express Services Corp. |
Retail/restaurants | Yes | U.S. | ||||||||||
| B-/Negative |
McGraw-Hill Education Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B-/Negative |
Mitel Networks (International) Ltd. |
High technology | Yes | U.K. | ||||||||||
| B-/Negative |
Monitronics International Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Negative |
Nabors Industries Ltd. |
Oil and gas | Bermuda | |||||||||||
| B-/Negative |
Navitas Midstream Midland Basin, LLC |
Midstream | U.S. | |||||||||||
| B-/Negative |
Nets Topco 3 S.a r.l. |
High technology | Yes | Denmark | ||||||||||
| B-/Negative |
Norican Global A/S |
Capital goods | Denmark | |||||||||||
| B-/Negative |
Nutrition Parent LLC |
Consumer products | U.S. | |||||||||||
| B-/Negative |
One Call Corp. |
One Call Care Management Inc. |
Insurance | Yes | U.S. | |||||||||
| B-/Negative |
Oryx Midstream Holdings LLC |
Utilities | Yes | U.S. | ||||||||||
| B-/Negative |
Owens & Minor Inc. |
Consumer products | U.S. | |||||||||||
| B-/Negative |
P&L Development Holdings, LLC |
Consumer products | U.S. | |||||||||||
| B-/Negative |
PAX Midco Spain |
Retail/restaurants | Yes | Spain | ||||||||||
| B-/Negative |
PT Lippo Karawaci Tbk. |
Homebuilders/real estate companies | Indonesia | |||||||||||
| B-/Negative |
Pampa Energia S.A. |
Utilities | Argentina | |||||||||||
| B-/Negative |
Panda Stonewall LLC |
Merchant | Yes | U.S. | ||||||||||
| B-/Negative |
Paradigm Midstream LLC |
Midstream | U.S. | |||||||||||
| B-/Negative |
Parts Holding Europe SAS |
Dakar Finance S.A. |
Automotive | France | ||||||||||
| B-/Negative |
Perstorp Holding AB (publ) |
Chemicals, packaging, and environmental services | Sweden | |||||||||||
| B-/Negative |
PetroChoice Holdings Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B-/Negative |
Plaskolite PPC Intermediate II LLC |
Plaskolite PPC Intermediate I LLC |
Forest products and building materials | Yes | U.S. | |||||||||
| B-/Negative |
PowerTeam Services LLC |
Capital goods | U.S. | |||||||||||
| B-/Negative |
Pregis TopCo Corp. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| B-/Negative |
Premier Brands Group Holdings LLC |
Consumer products | Yes | U.S. | ||||||||||
| B-/Negative |
Procera I, LP |
High technology | Yes | Canada | ||||||||||
| B-/Negative |
Project Boost Purchaser LLC |
High technology | Yes | U.S. | ||||||||||
| B-/Negative |
Project Silverback Holding Corp. |
High technology | Yes | U.S. | ||||||||||
| B-/Negative |
Prometric Holdings Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Negative |
Promontoria Holding 264 B.V. |
Transportation | Netherlands | |||||||||||
| B-/Negative |
Pugnacious Endeavors Inc. |
Media and entertainment | Yes | U.S. | ||||||||||
| B-/Negative |
QBS Parent Inc. |
Project Quarterback Parent, LLC |
High technology | U.S. | ||||||||||
| B-/Negative |
QualTek USA, LLC |
Capital goods | U.S. | |||||||||||
| B-/Negative |
Ring Container Technologies Group, LLC |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| B-/Negative |
Rubix Group Holdings Ltd. |
Capital goods | U.K. | |||||||||||
| B-/Negative |
SIWF Holdings Inc. |
Consumer products | Yes | U.S. | ||||||||||
| B-/Negative |
SK Invictus Intermediate II S.a r.l. |
Chemicals, packaging, and environmental services | Luxembourg | |||||||||||
| B-/Negative |
SM Energy Co. |
Oil and gas | Yes | U.S. | ||||||||||
| B-/Negative | SP PF Buyer LLC | Media and entertainment | U.S. | |||||||||||
| B-/Negative |
STG-Fairway Holdings LLC (d/b/a First Advantage Corp.) |
Consumer products | U.S. | |||||||||||
| B-/Negative |
Safe Fleet Holdings LLC |
Capital goods | Yes | U.S. | ||||||||||
| B-/Negative |
Salient CRGT Inc. |
Aerospace and defense | U.S. | |||||||||||
| B-/Negative |
Selecta Group B.V. |
Consumer products | Yes | Netherlands | ||||||||||
| B-/Negative |
Shift4 Payments LLC |
High technology | Yes | U.S. | ||||||||||
| B-/Negative |
Solenis UK International Ltd. |
Chemicals, packaging, and environmental services | U.K. | |||||||||||
| B-/Negative |
Solera Parent Holding LLC |
High technology | Yes | U.S. | ||||||||||
| B-/Negative |
Specialty Building Products Holdings, LLC |
Forest products and building materials | U.S. | |||||||||||
| B-/Negative |
Star UK Midco Ltd. |
Capital goods | Yes | U.K. | ||||||||||
| B-/Negative |
Starfish Holdco LLC |
High technology | Yes | U.S. | ||||||||||
| B-/Negative |
Sterling Intermediate Corp. |
Media and entertainment | Yes | U.S. | ||||||||||
| B-/Negative |
TEG Pty Ltd. |
Media and entertainment | Australia | |||||||||||
| B-/Negative |
TMF Sapphire Midco B.V. |
Media and entertainment | U.K. | |||||||||||
| B-/Negative |
TPC Group Inc. |
TPC Group LLC |
Chemicals, packaging, and environmental services | Yes | U.S. | |||||||||
| B-/Negative |
Tacala LLC |
Retail/restaurants | Yes | U.S. | ||||||||||
| B-/Negative |
Tank Holding Corp. |
Capital goods | Yes | U.S. | ||||||||||
| B-/Negative |
Team Health Holdings Inc. |
Health care | Yes | U.S. | ||||||||||
| B-/Negative |
Telecom Argentina S.A. |
Telecommunications | Argentina | |||||||||||
| B-/Negative |
Terra-Gen Finance Co. LLC |
Terra-Gen Power Holding II LLC |
Merchant | U.S. | ||||||||||
| B-/Negative |
Tornante - MDP Joe Holding LLC |
Media and entertainment | U.S. | |||||||||||
| B-/Negative |
Toro Private Holdings I Ltd. |
Transportation | Yes | U.K. | ||||||||||
| B-/Negative |
Trade Me Group Ltd. |
High technology | Yes | New Zealand | ||||||||||
| B-/Negative |
Transportadora de Gas del Sur S.A. (TGS) |
Compania De Inversiones de Energia S.A. |
Utilities | Argentina | ||||||||||
| B-/Negative |
Triton UK Midco Ltd. |
High technology | U.K. | |||||||||||
| B-/Negative |
Triumph Group Inc. |
Aerospace and defense | Yes | U.S. | ||||||||||
| B-/Negative |
Truck Holdings Inc. |
Automotive | U.S. | |||||||||||
| B-/Negative |
USS Ultimate Holdings Inc. |
Chemicals, packaging, and environmental services | Yes | U.S. | ||||||||||
| B-/Negative |
United States Steel Corp. |
Metals, mining, and steel | U.S. | |||||||||||
| B-/Negative |
Vantage Specialty Chemicals Inc. |
Chemicals, packaging, and environmental services | U.S. | |||||||||||
| B-/Negative |
Veritas Holdings Ltd. |
High technology | Yes | Bermuda | ||||||||||
| B-/Negative |
Vue International Bidco plc |
Media and entertainment | U.K. | |||||||||||
| B-/Negative |
WP CPP Holdings LLC |
Aerospace and defense | U.S. | |||||||||||
| B-/Negative |
Wand NewCo 3 Inc. |
Automotive | Yes | U.S. | ||||||||||
| B-/Negative |
WaterBridge Operating LLC |
WaterBridge Resources, LLC |
Midstream | Yes | U.S. | |||||||||
| B-/Negative |
Welltec A/S |
Oil and gas | Yes | Denmark | ||||||||||
| B-/Negative |
Wesco Aircraft Holdings Inc. |
Wolverine Intermediate Holding Corp. |
Aerospace and defense | Yes | U.S. | |||||||||
| B-/Negative |
Wheel Pros Inc. |
Automotive | U.S. | |||||||||||
| B-/Negative |
WireCo WorldGroup Inc. |
Metals, mining, and steel | Yes | U.S. | ||||||||||
| B-/Negative |
Wirepath LLC |
Crackle Holdings LP |
High technology | U.S. | ||||||||||
| B-/Negative |
World Endurance Holdings Inc. |
Media and entertainment | U.S. | |||||||||||
| B-/Negative |
Xplornet Communications Inc. |
Telecommunications | Canada | |||||||||||
| B-/Negative |
YPF S.A. |
Oil and gas | Argentina | |||||||||||
| B-/Negative |
YS Garments LLC |
Consumer products | U.S. | |||||||||||
| B-/Negative |
Zenith Energy U.S. Logistics Holdings, LLC |
Midstream | U.S. | |||||||||||
| B-/Negative |
nThrive Inc. |
Health care | U.S. | |||||||||||
| B-/Negative |
pH Beauty Holdings I Inc. |
Consumer products | Yes | U.S. | ||||||||||
| Data as of April 28, 2020. Source: S&P Global Ratings Research. | ||||||||||||||
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This report does not constitute a rating action.
| CREDIT MARKETS RESEARCH: | Sudeep K Kesh, New York (1) 212-438-7982; sudeep.kesh@spglobal.com |
| Sarah Limbach, Paris + 33 14 420 6708; Sarah.Limbach@spglobal.com | |
| Research Contributor: | Abhik Debnath, CRISIL Global Analytical Center, an S&P Global Ratings affiliate, Mumbai |
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