Key Takeaways
- The number of global weakest links (issuers rated 'B-' or lower by S&P Global Ratings with negative outlooks or ratings on CreditWatch with negative implications) decreased to 572 as of August 31st from 589 since our last report.
- The weakest link tally is still elevated and nearly double its precrisis levels (see table 1), though it does reflect some broad improvement among issuers most at risk for default over the past three months.
- The negative bias through Aug. 31, 2020, across regions remains higher than in January 2020, signaling future downgrades (see chart 3).
- The media and entertainment (including hotels, and gaming and leisure) (103 issuers), consumer products (71 issuers), and oil and gas (46 issuers) sectors lead weakest links globally. Together they account for 38% of the global weakest links (see chart 6).
The number of global weakest links decreased to 572 as of Aug. 31, from 589 since our last report. Weakest links are issuers rated 'B-' or lower by S&P Global Ratings with negative outlooks or ratings on CreditWatch with negative implications, and they typically default at a rate 8x that of speculative-grade companies.
Although decreasing from all-time highs in June, the number of weakest links globally is still nearly double precrisis levels as more aggressive financial policies and investors' risk appetite helped increase the number of low-rated issuers globally. The tally is also still well above levels seen in the global financial crisis, when default rates reached all-time highs.
In the first nine months of this year, global defaults total 170--nearly 90% are from issuers in the 'CCC' and below rating category. So far in 2020, most defaults have come from issuers that have missed interest or principal payments, rather than distressed exchanges, as lower-rated issuers are contending with weaker revenue and earnings and are falling short of their debt obligations.
Media And Entertainment, And Leisure Remain At Risk For Further Defaults
The media and entertainment sector (which includes lodging and leisure) led with the most additions to this month's tally, with five weakest links. The sector also leads the overall tally with 105--nearly one-fifth of all weakest links. The COVID-19 pandemic has affected many segments of the media and entertainment industry. Since the start of the pandemic, the tally of media and entertainment weakest links has more than doubled, and the number of defaults has risen to its highest year-to-date level since the financial crisis, to 22.
In the U.S., where 56% of the sector's weakest links are based, social distancing measures and government-mandated closures have taken a toll on live events, theme park operators, film and TV studios, fitness centers, hotels, cruises, movie exhibitors, and travel-related trade show and conference operators throughout the region. Media sectors dependent on ad revenues, such as digital publishers, TV, radio, outdoor, and print-based media, are suffering more from the accompanying economic recession than the pandemic itself (see "Industry Top Trends Update: Media and Entertainment- North American," July 16, 2020)
Table 1
The Number Of Weakest Links Pre-COVID, GFC*, And Now | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Sectors | August 2020 standings | March 2020 standings | December 2019 standings | April 2009 standings | ||||||
Media/entert | 103 | 44 | 39 | 60 | ||||||
Consumer products | 71 | 53 | 51 | 20 | ||||||
Oil and gas | 46 | 35 | 32 | 15 | ||||||
Capital goods | 44 | 14 | 15 | 16 | ||||||
Retail | 42 | 27 | 22 | 24 | ||||||
Health care | 36 | 24 | 20 | 11 | ||||||
CP&ES | 35 | 19 | 17 | 19 | ||||||
High technology | 34 | 10 | 9 | 11 | ||||||
Automotive | 21 | 12 | 9 | 18 | ||||||
Transportation | 21 | 2 | 4 | 13 | ||||||
Telecommunications | 20 | 19 | 18 | 5 | ||||||
Metals/mining/steel | 18 | 12 | 12 | 11 | ||||||
Financial institutions | 15 | 8 | 9 | 25 | ||||||
Midstream | 14 | |||||||||
Utility | 14 | 14 | 12 | 5 | ||||||
Aerospace/defense | 12 | 2 | 3 | 2 | ||||||
Forest | 12 | 5 | 4 | 24 | ||||||
Home/RE | 7 | 6 | 5 | 9 | ||||||
Insurance | 6 | 1 | 1 | 8 | ||||||
Merchant power | 1 | |||||||||
*GFC--Great Financial Crisis. Media/entert--Media and entertainment. Retail-- Retail/restaurants. CP&ES--Chemicals, packaging, and environmental services. Metals/mining/steel-- Metals, mining, and steel. Home/RE-- Homebuilders/real estate companies. Forest--Forest products and building materials. Aerospace/defense-- Aerospace and defense. Data as of Aug. 31, 2020. Source: S&P Global Ratings Research And S&P Global Market Intelligence’s CreditPro®. |
Chart 1
Table 2
The Media And Entertainment Sector Has Seen Its Fair Share Of Defaults In 2020, But Still Below 2009 | ||||||
---|---|---|---|---|---|---|
Defaulters in 2020 | Defaulters in 2009 | |||||
Aerospace/automotive/capital goods/metal | 10 | 39 | ||||
Consumer/service sector | 45 | 30 | ||||
Energy and natural resources | 40 | 13 | ||||
Financial institutions | 1 | 29 | ||||
Forest and building products/homebuilders | 2 | 33 | ||||
Health care/chemicals | 7 | 17 | ||||
High tech/computers/office equipment | 4 | 8 | ||||
Insurance | 1 | 4 | ||||
Leisure time/media | 22 | 67 | ||||
Real estate | 5 | 9 | ||||
Telecommunications | 5 | 9 | ||||
Transportation | 9 | 8 | ||||
Utility | 2 | 2 | ||||
Data as of July 31, 2020. Source: S&P Global Ratings Research And S&P Global Market Intelligence’s CreditPro®. |
Chart 2
Chart 3
Chart 4
Chart 5
Table 3
12-Month Default Rates By Region | ||||||
---|---|---|---|---|---|---|
Region | Weakest links default rate | All speculative- grade default rate | ||||
Global | 24.56 | 4.72 | ||||
U.S. | 26.17 | 5.84 | ||||
Europe | 25.69 | 3.63 | ||||
Emerging markets | 18.04 | 3.08 | ||||
Other developed | 30.24 | 5.30 | ||||
Data as of July 31, 2020. Source: S&P Global Ratings Research and S&P Global Market Intelligence’s CreditPro®. |
Table 4
Weakest Links Listed In The Top 250 Corporate Obligors In Outstanding Rated U.S. Cash Flow CLOs | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Media and entertainment has almost 32% Of them | ||||||||||
Organization | Rank in U.S. CLO transactions | Outlook/CreditWatch | Applied rating | Sector/subsector | ||||||
Syniverse Holdings Inc. |
10 | Negative | CCC+ | Telecommunications | ||||||
Mohegan Tribal Gaming Authority |
18 | Negative | CCC+ | Media and entertainment | ||||||
Life Time Inc. |
32 | Negative | CCC+ | Media and entertainment | ||||||
Team Health Holdings Inc., |
40 | Negative | B- | Health care | ||||||
SeaWorld Parks & Entertainment Inc. |
42 | Negative | B- | Media and entertainment | ||||||
Brand Industrial Services, Inc. |
65 | Negative | B- | Capital goods | ||||||
USS Ultimate Holdings Inc. |
74 | Negative | B- | Chemicals, packaging, and environmental services | ||||||
KUEHG Corp. |
78 | Negative | CCC+ | Media and entertainment | ||||||
Golden Nugget Inc. |
84 | Negative | B- | Retail/restaurants | ||||||
Intrado Corp. |
87 | Negative | B- | Telecommunications | ||||||
Vericast Corp. |
94 | Negative | CCC+ | Media and entertainment | ||||||
AVSC Holding Corp. |
121 | Negative | CCC | Media and entertainment | ||||||
GTT Communications, Inc. |
142 | Watch Neg | CCC+ | Telecommunications | ||||||
WP CPP Holdings LLC |
144 | Negative | B- | Aerospace and defense | ||||||
Envision Healthcare Corp. |
180 | Negative | CCC | Health care | ||||||
NEP/NCP Holdco Inc. |
182 | Watch Neg | B- | Media and entertainment | ||||||
BCP Raptor II, LLC |
185 | Negative | B- | Midstream | ||||||
Dynasty Acquisition Co., Inc. |
195 | Negative | B- | Aerospace and defense | ||||||
Oryx Midstream Holdings LLC |
208 | Negative | B- | Midstream | ||||||
Project Boost Purchaser LLC |
210 | Negative | B- | High technology | ||||||
WestJet Airlines Ltd. |
219 | Watch Neg | B- | Transportation | ||||||
Wand NewCo 3, Inc. |
249 | Negative | B- | Automotive | ||||||
CLO--Collateralized loan obligation. Data as of Aug. 31, 2020. Source: S&P Global Ratings Research. |
Table 5
Trailing 12-Month Corporate Default Rates By Industry (U.S. Speculative-Grade Issuers Only) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
(%) | Jul. 31, 2020 | Jun. 30, 2020 | Six months ago | 12 months ago | ||||||
Financial | ||||||||||
Financial institutions | 0.00 | 1.02 | 3.00 | 5.00 | ||||||
Insurance | 1.54 | 1.56 | 1.64 | 1.59 | ||||||
Non-Financial | ||||||||||
Aerospace/automotive/capital goods/metal | 3.52 | 3.56 | 1.18 | 1.19 | ||||||
Consumer/service sector | 11.64 | 10.64 | 5.30 | 3.81 | ||||||
Energy and natural resources | 13.93 | 11.82 | 8.25 | 7.54 | ||||||
Forest and building products/homebuilders | 1.05 | 1.05 | 1.02 | 0.00 | ||||||
Health care/chemicals | 4.04 | 4.07 | 2.26 | 0.46 | ||||||
High technology/computers/office equipment | 1.52 | 1.50 | 2.62 | 2.06 | ||||||
Leisure time/media | 5.94 | 5.02 | 1.76 | 2.17 | ||||||
Real estate | 1.75 | 1.75 | 0.00 | 0.00 | ||||||
Telecommunications | 6.06 | 4.55 | 4.48 | 2.86 | ||||||
Transportation | 4.17 | 4.17 | 0.00 | 0.00 | ||||||
Utilities | 5.56 | 5.56 | 2.70 | 0.00 | ||||||
Data as of July 31, 2020. Sources: S&P Global Ratings Research and S&P Global Market Intelligence’s CreditPro®. |
Table 6
Issuers Rated ‘B-’ Or Lower With A Negative Outlook Or On CreditWatch With Negative Implications | |||||||||
---|---|---|---|---|---|---|---|---|---|
Rating | Outlook / CreditWatch Placement | Subsector | Issuer | Parent company | New to the list this month | Outlook/Credit Watch Change | Debt (US$ Mil) | Country | Region |
B- | CreditWatch Negative | Consumer products | Sierra Enterprises LLC | 282 | U.S. | U.S. | |||
B- | CreditWatch Negative | Forest products and building materials | The New Home Co. Inc. | 325 | U.S. | U.S. | |||
B- | CreditWatch Negative | Health care | Alliance HealthCare Services | 525 | U.S. | U.S. | |||
B- | CreditWatch Negative | Health care | American Dental Partners Inc., | 215 | U.S. | U.S. | |||
B- | CreditWatch Negative | Health care | ATI Holdings Acquisition Inc., | 993 | U.S. | U.S. | |||
B- | CreditWatch Negative | Health care | Covenant Surgical Partners Inc., | 700 | U.S. | U.S. | |||
B- | CreditWatch Negative | Health care | Dentalcorp Health Services ULC | 1,152 | Canada | Canada | |||
B- | CreditWatch Negative | Health care | Navicure Inc., | Yes | 1,653 | U.S. | U.S. | ||
B- | CreditWatch Negative | Health care | Surgery Partners Inc., | 2,470 | U.S. | U.S. | |||
B- | CreditWatch Negative | Homebuilders/real estate companies | Ezdan Holding Group Q.S.C. | 2,000 | Qatar | Eastern Europe/Middle East/Africa | |||
B- | CreditWatch Negative | Insurance | APCO Super Holdco LP | 220 | U.S. | U.S. | |||
B- | CreditWatch Negative | Insurance | Genworth Financial Inc. | 3,136 | U.S. | U.S. | |||
B- | CreditWatch Negative | Media and entertainment | 18 Fremont Street Acquisition, LLC | 450 | U.S. | U.S. | |||
B- | CreditWatch Negative | Media and entertainment | Cassini SAS | 784 | France | Europe | |||
B- | CreditWatch Negative | Media and entertainment | Century Casinos Inc., | 170 | U.S. | U.S. | |||
B- | CreditWatch Negative | Media and entertainment | Cirsa Enterprises S.L.U. | LHMC Finco 2 S.a.r.l. | Yes | 2,332 | Spain | Europe | |
B- | CreditWatch Negative | Media and entertainment | Digital Room Holdings Inc., | 365 | U.S. | U.S. | |||
B- | CreditWatch Negative | Media and entertainment | Jacobs Entertainment Inc. | 385 | U.S. | U.S. | |||
B- | CreditWatch Negative | Media and entertainment | Joye Media SLU | 1,095 | Spain | Europe | |||
B- | CreditWatch Negative | Media and entertainment | National Amusements Inc. | 300 | U.S. | U.S. | |||
B- | CreditWatch Negative | Media and entertainment | NEP/NCP Holdco Inc. | 1,370 | U.S. | U.S. | |||
B- | CreditWatch Negative | Media and entertainment | Piolin Bidco S.A.U. | 1,155 | Spain | Europe | |||
B- | CreditWatch Negative | Media and entertainment | SBP Holding LP | 845 | U.S. | U.S. | |||
B- | CreditWatch Negative | Media and entertainment | Spectacle Gary Holdings, LLC | 370 | U.S. | U.S. | |||
B- | CreditWatch Negative | Media and entertainment | Sugarhouse HSP Gaming Prop. Mezz. L.P. | 600 | U.S. | U.S. | |||
B- | CreditWatch Negative | Media and entertainment | The Octave Music Group Inc. | 290 | U.S. | U.S. | |||
B- | CreditWatch Negative | Midstream | Third Coast Midstream, LLC | Yes | 850 | U.S. | U.S. | ||
B- | CreditWatch Negative | Oil and gas | DTEK Renewables B.V. | - | Netherlands | Europe | |||
B- | CreditWatch Negative | Retail/restaurants | AAG FH LP | 244 | Canada | Canada | |||
B- | CreditWatch Negative | Retail/restaurants | GameStop Corp. | 691 | U.S. | U.S. | |||
B- | CreditWatch Negative | Retail/restaurants | Mabel Topco Ltd. | The Restaurant Group PLC | 300 | U.K. | Europe | ||
B- | CreditWatch Negative | Transportation | Transportes Aereos Portugueses, SGPS, S.A. | 447 | Portugal | Europe | |||
B- | CreditWatch Negative | Transportation | URS Holdco Inc., | 747 | U.S. | U.S. | |||
B- | CreditWatch Negative | Transportation | WestJet Airlines Ltd. | 1,955 | Canada | Canada | |||
B- | Outlook Negative | Aerospace and defense | Dynasty Acquisition Co. Inc., | 2,340 | U.S. | U.S. | |||
B- | Outlook Negative | Aerospace and defense | F-Brasile S.p.A | 1,010 | Italy | Europe | |||
B- | Outlook Negative | Aerospace and defense | Jazz Acquisition Inc. | Wencor Group LLC | 530 | U.S. | U.S. | ||
B- | Outlook Negative | Aerospace and defense | Salient CRGT Inc., | 420 | U.S. | U.S. | |||
B- | Outlook Negative | Aerospace and defense | WP CPP Holdings LLC | 1,506 | U.S. | U.S. | |||
B- | Outlook Negative | Automotive | Cooper-Standard Holdings Inc., | 990 | U.S. | U.S. | |||
B- | Outlook Negative | Automotive | Dealer Tire LLC | 1,733 | U.S. | U.S. | |||
B- | Outlook Negative | Automotive | EnTrans International, LLC | 255 | U.S. | U.S. | |||
B- | Outlook Negative | Automotive | FleetPride Inc., | Fastlane Parent Co. Inc., | 845 | U.S. | U.S. | ||
B- | Outlook Negative | Automotive | Grupo Antolin Irausa SA | 2,203 | Spain | Europe | |||
B- | Outlook Negative | Automotive | Kongsberg Automotive ASA | Yes | 327 | Norway | Europe | ||
B- | Outlook Negative | Automotive | Parts Holding Europe SAS | Dakar Finance S.A. | 1,504 | France | Europe | ||
B- | Outlook Negative | Automotive | TPro Acquisition Corp. | 300 | U.S. | U.S. | |||
B- | Outlook Negative | Automotive | Truck Holdings Inc. | 1,495 | U.S. | U.S. | |||
B- | Outlook Negative | Automotive | Wand NewCo 3 Inc., | 2,541 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | Algeco Investments B.V. | 1,592 | Netherlands | Europe | |||
B- | Outlook Negative | Capital goods | Brand Industrial Services Inc., | 3,825 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | C&D Technologies Inc. | 400 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | CFS Brands LLC | 408 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | CIRCOR International Inc., | 492 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | Crosby Worldwide Ltd. | - | U.K. | Europe | |||
B- | Outlook Negative | Capital goods | DexKo Global Inc. | 3,120 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | Energy Holdings (Cayman) Ltd., | 2,094 | Cayman Islands | U.S. | |||
B- | Outlook Negative | Capital goods | FR Flow Control Midco Ltd. | - | U.K. | Europe | |||
B- | Outlook Negative | Capital goods | Heidelberger Druckmaschinen AG | 245 | Germany | Europe | |||
B- | Outlook Negative | Capital goods | Infrastructure and Energy Alternatives Inc., | - | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | JMC Acquisition Corp. | 460 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | LJ Ruby Holdings, LLC | 435 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | Maxim Crane Works Holdings Capital, LLC | 545 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | Norican Global A/S | 405 | Denmark | Europe | |||
B- | Outlook Negative | Capital goods | QualTek USA, LLC | 380 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | Rubix Group Holdings Ltd. | 2,036 | U.K. | Europe | |||
B- | Outlook Negative | Capital goods | Safe Fleet Holdings LLC | 1,435 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | Star UK Midco Ltd. | 535 | U.K. | Europe | |||
B- | Outlook Negative | Capital goods | Tailwind Smith Cooper Holding Corp. | - | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | Tank Holding Corp. | 529 | U.S. | U.S. | |||
B- | Outlook Negative | Capital goods | USIC Holdings Inc. | 1,892 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | ASP Chromaflo Holdings LP | 960 | Cayman Islands | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Ball Metalpack Finco LLC | 540 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Cornerstone Chemical Co. | 450 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | EnergySolutions Inc. | 650 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Fort Dearborn Holding Co. Inc. | 625 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Hexion Inc. | 1,681 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Kleopatra Holdings 1 S.C.A. | 2,169 | Luxembourg | Europe | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Kronos Worldwide Inc. | 476 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Perstorp Holding AB (publ) | 993 | Sweden | Europe | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Pregis TopCo Corp. | 615 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Ring Container Technologies Group, LLC | 540 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Schoeller Packaging B.V. | 298 | Netherlands | Europe | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | SK Blue Holdings, LP | 2,950 | Cayman Islands | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | SK Invictus Intermediate II S.a r.l. | 1,430 | Luxembourg | Europe | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Solenis UK International Ltd. | 4,987 | U.K. | Europe | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | TPC Group Inc., | TPC Group LLC | 930 | U.S. | U.S. | ||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Trident TPI Holdings Inc., | 2,456 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | USS Ultimate Holdings Inc., | 2,490 | U.S. | U.S. | |||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Vantage Specialty Chemicals Inc. | 758 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Acropole Holding | 578 | France | Europe | |||
B- | Outlook Negative | Consumer products | Afflelou SAS | 494 | France | Europe | |||
B- | Outlook Negative | Consumer products | BMC Acquisition Inc., | 230 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Cast & Crew Payroll, LLC | 890 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Chefs' Warehouse Inc., (The) | 405 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | CHG PPC Intermediate II LLC | 901 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Corporacion Azucarera del Peru S. A. | 325 | Peru | Latin America | |||
B- | Outlook Negative | Consumer products | Edward Don & Co. Holdings, LLC | 210 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Fetch Holdco LLC | - | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Genuine Financial Holdings, LLC | 1,050 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Halo Buyer Inc. | 370 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Haya Real Estate S.A.U | 566 | Spain | Europe | |||
B- | Outlook Negative | Consumer products | Hillman Cos. Inc. (The) | 1,390 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | IM Growth SAS | 238 | France | Europe | |||
B- | Outlook Negative | Consumer products | KLDiscovery Inc. | Yes | 680 | U.S. | U.S. | ||
B- | Outlook Negative | Consumer products | KNEL Acquisition LLC | 465 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Livingston International Inc. | 344 | Canada | Canada | |||
B- | Outlook Negative | Consumer products | LSF9 Balta Issuer S.A. | 442 | Belgium | Europe | |||
B- | Outlook Negative | Consumer products | Marcolin SpA | 298 | Italy | Europe | |||
B- | Outlook Negative | Consumer products | Nutrition Parent LLC | 248 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Oak Holdings, LLC | Yes | 389 | U.S. | U.S. | ||
B- | Outlook Negative | Consumer products | P&L Development Holdings, LLC | 313 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | PetroChoice Holdings Inc., | 445 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | pH Beauty Holdings I Inc., | 340 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | Premier Brands Group Holdings LLC | 325 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | RGIS Holdings LLC | 400 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | SIWF Holdings Inc., | 1,145 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | TGP Holdings III LLC | 456 | U.S. | U.S. | |||
B- | Outlook Negative | Consumer products | YS Garments LLC | 330 | U.S. | U.S. | |||
B- | Outlook Negative | Financial institutions | Asset Finance Ltd. | - | New Zealand | Asia/Pacific | |||
B- | Outlook Negative | Financial institutions | Freedom Mortgage Corp. | 1,350 | U.S. | U.S. | |||
B- | Outlook Negative | Financial institutions | OCWEN Financial Corp. | Yes | 550 | U.S. | U.S. | ||
B- | Outlook Negative | Financial institutions | Ravnaq-bank Private Open Joint-Stock Commercial Bank | - | Uzbekistan | Eastern Europe/Middle East/Africa | |||
B- | Outlook Negative | Financial institutions | Turkiston Bank | - | Uzbekistan | Eastern Europe/Middle East/Africa | |||
B- | Outlook Negative | Financial institutions | World Acceptance Corp. | - | U.S. | U.S. | |||
B- | Outlook Negative | Forest products and building materials | Plaskolite PPC Intermediate II LLC | Plaskolite PPC Intermediate I LLC | 660 | U.S. | U.S. | ||
B- | Outlook Negative | Forest products and building materials | Specialty Building Products Holdings, LLC | 500 | U.S. | U.S. | |||
B- | Outlook Negative | Forest products and building materials | Werner FinCo LP | New Werner Holding Co. Inc., | 625 | U.S. | U.S. | ||
B- | Outlook Negative | Health care | Aegis Toxicology Sciences Corp. | Aegis Acquistion Inc., | 300 | U.S. | U.S. | ||
B- | Outlook Negative | Health care | Alvogen Pharma US Inc., | Alvogen Lux Holdings S.a.r.l. | 2,119 | U.S. | U.S. | ||
B- | Outlook Negative | Health care | American Renal Associates Holdings Inc., | 440 | U.S. | U.S. | |||
B- | Outlook Negative | Health care | Arbor Pharmaceuticals Inc. | 500 | U.S. | U.S. | |||
B- | Outlook Negative | Health care | Avalign Holdings Inc., | 458 | U.S. | U.S. | |||
B- | Outlook Negative | Health care | Buccaneer Intermediate Holdco Ltd. | 545 | U.K. | Europe | |||
B- | Outlook Negative | Health care | ERC Topco Holdings, LLC | 220 | U.S. | U.S. | |||
B- | Outlook Negative | Health care | Greenway Health, LLC | 530 | U.S. | U.S. | |||
B- | Outlook Negative | Health care | Lannett Co. Inc., | 1,060 | U.S. | U.S. | |||
B- | Outlook Negative | Health care | LSCS Holdings Inc., | 405 | U.S. | U.S. | |||
B- | Outlook Negative | Health care | Team Health Holdings Inc., | 7,230 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | Aspen Jersey Topco LLC | 300 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | Cohu Inc., | 350 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | Crackle Intermediate Corp. | Crackle Holdings LP | - | U.S. | U.S. | ||
B- | Outlook Negative | High technology | Eclipse Midco Inc., | 694 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | First American Payment Systems LP | 275 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | Franklin Ireland Topco Ltd. | - | Ireland | Europe | |||
B- | Outlook Negative | High technology | Idemia France SAS | 7,228 | France | Europe | |||
B- | Outlook Negative | High technology | Mitel Networks (International) Ltd. | 1,380 | U.K. | Europe | |||
B- | Outlook Negative | High technology | Monotype Imaging Holdings Inc. | 425 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | MYOB Invest Co Pty Ltd. | 670 | Australia | Asia/Pacific | |||
B- | Outlook Negative | High technology | Nets Topco 3 S.a r.l. | 3,717 | Denmark | Europe | |||
B- | Outlook Negative | High technology | Procera I, LP | 510 | Canada | Canada | |||
B- | Outlook Negative | High technology | Project Boost Purchaser LLC | 1,230 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | Project Silverback Holding Corp. | 943 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | QBS Parent Inc., | Project Quarterback Parent, LLC | 420 | U.S. | U.S. | ||
B- | Outlook Negative | High technology | Solera Parent Holding, LLC | 11,592 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | Starfish Holdco LLC | 4,733 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | Sungard AS New Holdings, LLC | 400 | U.S. | U.S. | |||
B- | Outlook Negative | High technology | Trade Me Group Ltd. | 602 | New Zealand | Asia/Pacific | |||
B- | Outlook Negative | High technology | Triton UK Midco Ltd. | 305 | U.K. | Europe | |||
B- | Outlook Negative | High technology | Veritas Holdings Ltd. | 14,816 | Bermuda | U.S. | |||
B- | Outlook Negative | High technology | Wirepath LLC | Crackle Holdings LP | 682 | U.S. | U.S. | ||
B- | Outlook Negative | Homebuilders/real estate companies | Dawn Acquisitions LLC | Infra Colodata Holdings LLC | 550 | U.S. | U.S. | ||
B- | Outlook Negative | Homebuilders/real estate companies | PT Lippo Karawaci Tbk. | 1,160 | Indonesia | Asia/Pacific | |||
B- | Outlook Negative | Insurance | Amynta Holdings LLC | 1,455 | U.S. | U.S. | |||
B- | Outlook Negative | Insurance | Confie Seguros Holding Co. | Yes | 1,065 | U.S. | U.S. | ||
B- | Outlook Negative | Insurance | One Call Corp. | One Call Care Management Inc., | 1,866 | U.S. | U.S. | ||
B- | Outlook Negative | Insurance | Wethaq Takaful Insurance Co. K.S.C. | - | Kuwait | Eastern Europe/Middle East/Africa | |||
B- | Outlook Negative | Media and entertainment | ABC Financial Intermediate, LLC | Yes | - | U.S. | U.S. | ||
B- | Outlook Negative | Media and entertainment | APX Group Holdings Inc. | 4,577 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | AQ Carver Buyer Inc., | 455 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Awaze Ltd. | 1,175 | U.K. | Europe | |||
B- | Outlook Negative | Media and entertainment | Bowlero Corp. | 1,045 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Cengage Learning Holdings II Inc. | 2,580 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | ConvergeOne Holdings Inc. | 1,235 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Cumulus Media Inc. | 2,325 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | DMT Solutions Global Corp. | 250 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | EagleView Technology Corp. | 765 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | eDreams ODIGEO S.A. | Yes | 714 | Luxembourg | Europe | ||
B- | Outlook Negative | Media and entertainment | Getty Images Inc. | Abe Investment Holdings Inc., | Yes | 1,876 | U.S. | U.S. | |
B- | Outlook Negative | Media and entertainment | Hoya Midco, LLC | 640 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Hubbard Radio, LLC | 480 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Infogroup Inc. | 250 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | International Park Holdings B.V. | 798 | Spain | Europe | |||
B- | Outlook Negative | Media and entertainment | IRI Holdings Inc. | 1,680 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | McGraw-Hill Education Inc., | 2,125 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Monitronics International Inc. | 1,923 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Peak Jersey Holdco Ltd. | 933 | Jersey | Europe | |||
B- | Outlook Negative | Media and entertainment | Playa Hotels & Resorts N.V. | 1,010 | Netherlands | Europe | |||
B- | Outlook Negative | Media and entertainment | PlayPower Holdings Inc. | 400 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Prometric Holdings Inc., | 1,294 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Pugnacious Endeavors Inc. | 2,569 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Recess Holdings Inc., | 565 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Ryman Hospitality Properties Inc., | Yes | 2,900 | U.S. | U.S. | ||
B- | Outlook Negative | Media and entertainment | SeaWorld Parks & Entertainment Inc. | Yes | 2,170 | U.S. | U.S. | ||
B- | Outlook Negative | Media and entertainment | Spring Education Group Inc. | 866 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Sterling Intermediate Corp. | 655 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | TEG Pty Ltd. | 770 | Australia | Asia/Pacific | |||
B- | Outlook Negative | Media and entertainment | TMF Sapphire Midco B.V. | 1,548 | Netherlands | Europe | |||
B- | Outlook Negative | Media and entertainment | Tornante - MDP Joe Holding LLC | 125 | U.S. | U.S. | |||
B- | Outlook Negative | Media and entertainment | Viking Cruises Ltd. | Viking Holdings Ltd | 2,875 | U.S. | U.S. | ||
B- | Outlook Negative | Media and entertainment | Vue International Bidco plc | 977 | U.K. | Europe | |||
B- | Outlook Negative | Merchant power | Terra-Gen Finance Co. LLC | Terra-Gen Power Holding II LLC | 323 | U.S. | U.S. | ||
B- | Outlook Negative | Metals, mining, and steel | Baffinland Iron Mines Corp. | 1,850 | Canada | Canada | |||
B- | Outlook Negative | Metals, mining, and steel | Cleveland-Cliffs Inc. | 6,977 | U.S. | U.S. | |||
B- | Outlook Negative | Metals, mining, and steel | Companhia Siderurgica Nacional (CSN) | - | Brazil | Latin America | |||
B- | Outlook Negative | Metals, mining, and steel | CONSOL Energy Inc. | Yes | 675 | U.S. | U.S. | ||
B- | Outlook Negative | Metals, mining, and steel | Eurasian Resources Group (ERG) S.a.r.l. | - | Luxembourg | Europe | |||
B- | Outlook Negative | Metals, mining, and steel | Ferrexpo PLC | - | U.K. | Europe | |||
B- | Outlook Negative | Metals, mining, and steel | MRC Global (US) Inc. | McJunkin Red Man Holding Corp. | 399 | U.S. | U.S. | ||
B- | Outlook Negative | Metals, mining, and steel | WireCo WorldGroup Inc. | 595 | U.S. | U.S. | |||
B- | Outlook Negative | Midstream | BCP Raptor II, LLC | BCP Raptor HoldCo | 690 | U.S. | U.S. | ||
B- | Outlook Negative | Midstream | EagleClaw Midstream Ventures, LLC | BCP Raptor HoldCo | - | U.S. | U.S. | ||
B- | Outlook Negative | Midstream | Martin Midstream Partners L.P. | 1,491 | U.S. | U.S. | |||
B- | Outlook Negative | Midstream | Medallion Gathering & Processing, LLC | Medallion Midland Acquisition, LLC | - | U.S. | U.S. | ||
B- | Outlook Negative | Midstream | Navitas Midstream Midland Basin, LLC | 390 | U.S. | U.S. | |||
B- | Outlook Negative | Midstream | Oryx Midstream Holdings LLC | 1,500 | U.S. | U.S. | |||
B- | Outlook Negative | Midstream | Paradigm Midstream LLC | 400 | U.S. | U.S. | |||
B- | Outlook Negative | Midstream | WaterBridge Operating LLC | WaterBridge Resources, LLC | 1,000 | U.S. | U.S. | ||
B- | Outlook Negative | Midstream | Zenith Energy U.S. Logistics Holdings, LLC | 450 | U.S. | U.S. | |||
B- | Outlook Negative | Oil and gas | Antero Resources Corp. | 6,400 | U.S. | U.S. | |||
B- | Outlook Negative | Oil and gas | BEP Ulterra Holdings Inc., | 415 | U.S. | U.S. | |||
B- | Outlook Negative | Oil and gas | Berry Petroleum Corp. | 350 | U.S. | U.S. | |||
B- | Outlook Negative | Oil and gas | Bristow Group Inc. | 200 | U.S. | U.S. | |||
B- | Outlook Negative | Oil and gas | Encino Acquisition Partners LLC | 550 | U.S. | U.S. | |||
B- | Outlook Negative | Oil and gas | EnVen Energy Corp. | 650 | U.S. | U.S. | |||
B- | Outlook Negative | Oil and gas | Laredo Petroleum Inc. | 1,450 | U.S. | U.S. | |||
B- | Outlook Negative | Oil and gas | Matador Resources Co. | 1,000 | U.S. | U.S. | |||
B- | Outlook Negative | Oil and gas | Welltec A/S | 340 | Denmark | Europe | |||
B- | Outlook Negative | Retail/restaurants | AutoCanada Inc. | 95 | Canada | Canada | |||
B- | Outlook Negative | Retail/restaurants | Carrols Restaurant Group Inc., | 500 | U.S. | U.S. | |||
B- | Outlook Negative | Retail/restaurants | Conn's Inc. | 2,850 | U.S. | U.S. | |||
B- | Outlook Negative | Retail/restaurants | Eyemart Express Holdings LLC | 355 | U.S. | U.S. | |||
B- | Outlook Negative | Retail/restaurants | Flynn Restaurant Group LP | 745 | U.S. | U.S. | |||
B- | Outlook Negative | Retail/restaurants | Golden Nugget Inc. | 5,998 | U.S. | U.S. | |||
B- | Outlook Negative | Retail/restaurants | K-Mac Holdings Corp. | 480 | U.S. | U.S. | |||
B- | Outlook Negative | Retail/restaurants | Mavis Tire Express Services Corp. | 1,795 | U.S. | U.S. | |||
B- | Outlook Negative | Retail/restaurants | MED ParentCo, LP | 1,496 | U.S. | U.S. | |||
B- | Outlook Negative | Retail/restaurants | Moran Foods, LLC | SAL Acquisition Corp. | 334 | U.S. | U.S. | ||
B- | Outlook Negative | Retail/restaurants | PAX Midco Spain | 1,250 | Spain | Europe | |||
B- | Outlook Negative | Retail/restaurants | Tacala LLC | 564 | U.S. | U.S. | |||
B- | Outlook Negative | Telecommunications | Aerial Parent Corp. | 1,950 | U.S. | U.S. | |||
B- | Outlook Negative | Telecommunications | Aventiv Technologies, LLC | 1,665 | U.S. | U.S. | |||
B- | Outlook Negative | Telecommunications | Cologix Holdings Inc., | 425 | U.S. | U.S. | |||
B- | Outlook Negative | Telecommunications | DISH DBS Corp. | DISH Network Corp. | 10,250 | U.S. | U.S. | ||
B- | Outlook Negative | Telecommunications | GCI, LLC | GCI Liberty Inc., | 1,556 | U.S. | U.S. | ||
B- | Outlook Negative | Telecommunications | Intrado Corp. | 5,407 | U.S. | U.S. | |||
B- | Outlook Negative | Telecommunications | U.S. TelePacific Holdings Corp. | 655 | U.S. | U.S. | |||
B- | Outlook Negative | Transportation | American Airlines Group Inc. | 8,540 | U.S. | U.S. | |||
B- | Outlook Negative | Transportation | Bahia de las Isletas, S.L. | 693 | Spain | Europe | |||
B- | Outlook Negative | Transportation | Daseke Inc. | 500 | U.S. | U.S. | |||
B- | Outlook Negative | Transportation | International Seaways Inc., | 25 | Marshall Islands | Asia/Pacific | |||
B- | Outlook Negative | Transportation | Navios Maritime Acquisition Corp. | Navios Maritime Holdings Inc. | 1,340 | Marshall Islands | Asia/Pacific | ||
B- | Outlook Negative | Transportation | Promontoria Holding 264 B.V. | 905 | Netherlands | Europe | |||
B- | Outlook Negative | Transportation | Quality Distribution Inc. | 650 | U.S. | U.S. | |||
B- | Outlook Negative | Transportation | WWEX UNI Intermediate Holdings LLC | 1,650 | U.S. | U.S. | |||
B- | Outlook Negative | Utilities | Calumet Specialty Products Partners LP | 4,650 | U.S. | U.S. | |||
B- | Outlook Negative | Utilities | Ellaktor S.A. | 798 | Greece | Europe | |||
B- | Outlook Negative | Utilities | Ukrainian Railways JSC | 500 | Ukraine | Eastern Europe/Middle East/Africa | |||
CCC+ | CreditWatch Negative | Aerospace and defense | MB Aerospace Holdings II Corp. | 305 | U.K. | Europe | |||
CCC+ | CreditWatch Negative | Automotive | Pearl Holding III Ltd. | 175 | China | Asia/Pacific | |||
CCC+ | CreditWatch Negative | Consumer products | Array Canada Inc. | 315 | Canada | Canada | |||
CCC+ | CreditWatch Negative | Consumer products | Output Services Group Inc., | 1,532 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Consumer products | SIRVA Inc. | 850 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Health care | Affordable Care Holding Corp. | 516 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Health care | Exactech Inc., | 270 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Health care | Femur Buyer Inc., | 485 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Health care | Premier Dental Services Inc. | 996 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Health care | YI Group Holdings, LLC | 338 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Media and entertainment | AMC Entertainment Holdings Inc. | Yes | 6,021 | U.S. | U.S. | ||
CCC+ | CreditWatch Negative | Media and entertainment | CBAC Borrower LLC | 300 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Media and entertainment | Enterprise Development Authority | 450 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Media and entertainment | Gateway Casinos & Entertainment Ltd. | 695 | Canada | Canada | |||
CCC+ | CreditWatch Negative | Media and entertainment | Hanjin International Corp. | Korean Air Lines Co. Ltd. | 600 | Korea, Republic of | Asia/Pacific | ||
CCC+ | CreditWatch Negative | Media and entertainment | Thame and London Ltd. | 586 | U.K. | Europe | |||
CCC+ | CreditWatch Negative | Retail/restaurants | Red Lobster Intermediate Holdings LLC | 380 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Telecommunications | Gogo Inc. | 1,125 | U.S. | U.S. | |||
CCC+ | CreditWatch Negative | Telecommunications | GTT Communications Inc., | Yes | 3,493 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Aerospace and defense | Bombardier Inc. | 9,425 | Canada | Canada | |||
CCC+ | Outlook Negative | Aerospace and defense | Forming Machining Industries Holdings, LLC | 320 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Aerospace and defense | Propulsion Acquisition LLC | 535 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Aerospace and defense | Sequa Corp. | 1,470 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Aerospace and defense | Triumph Group Inc. | 2,025 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Aerospace and defense | Wesco Aircraft Holdings Inc. | Wolverine Intermediate Holding Corp. | 2,075 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Automotive | Accuride Corp. | 363 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Automotive | Dayco LLC | - | U.S. | U.S. | |||
CCC+ | Outlook Negative | Automotive | GC EOS Buyer Inc. | 1,115 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Automotive | PT Gajah Tunggal Tbk. | 250 | Indonesia | Asia/Pacific | |||
CCC+ | Outlook Negative | Capital goods | Ahern Rentals Inc. | 550 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | Aptim Corp. | 515 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | ASP Unifrax Holdings Inc., | 1,319 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | Big Ass Fans, LLC | 359 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | CPM Holdings Inc. | 1,480 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | FGI Acquisition Corp. | 200 | France | Europe | |||
CCC+ | Outlook Negative | Capital goods | Helix Acquisition Holdings Inc., | 1,405 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | Jason Holdings Inc. | Yes | - | U.S. | U.S. | ||
CCC+ | Outlook Negative | Capital goods | Liqui-Box Holdings Inc., | 530 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | Neenah Enterprises Inc., | Yes | 120 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Capital goods | NESCO Holdings Inc., | 475 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | Range Parent Inc. | 620 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | Shape Technologies Group Inc., | 350 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | Titan International Inc. | 400 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | Welbilt Inc., | 1,325 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Capital goods | Yak Access, LLC | 860 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Anchor Glass Container Corp. | 800 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | DCG Acquisition Corp. | 1,378 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Diamond (BC) B.V. | 2,741 | Netherlands | Europe | |||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Flint HoldCo S.a r.l. | 2,811 | Luxembourg | Europe | |||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | FXI Holdings Inc., | 2,075 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Hoffmaster Group Inc. | 547 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | PSC Industrial Outsourcing LP | PSC Holdings I LP | 570 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Road Infrastructure Investment Holdings Inc., | 614 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Transcendia Holdings Inc., | 405 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Zep Inc. | 725 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Zinc-Polymer Parent Holdings, LLC | 355 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | ABB/Con-Cise Optical Group LLC | Yes | 578 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Consumer products | Arctic Glacier Group Holdings Inc., | 880 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | Boardriders Inc., | 450 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | Boparan Holdings Ltd. | 797 | U.K. | Europe | |||
CCC+ | Outlook Negative | Consumer products | Brown Jordan International Inc. | 165 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | CatLuxe Sarl | CatLuxe Acquistion Sarl | 256 | Luxembourg | Europe | ||
CCC+ | Outlook Negative | Consumer products | CB Poly Investments, LLC | 1,658 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | CSM Bakery Solutions LLC | 1,060 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | Elevate Textiles Inc., | 710 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | Innovative Water Care Global Corp. | 460 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | KC Culinarte Holdings LP | 313 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | Never Slip Topco Inc. | 283 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | Pesquera Exalmar S.A.A. | 61 | Peru | Latin America | |||
CCC+ | Outlook Negative | Consumer products | Rodan & Fields, LLC | 600 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | Serta Simmons Bedding LLC | 10,201 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | The Talbots Inc. | 410 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | TMK Hawk Parent, Corp. | 820 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Consumer products | Transcom TopCo AB | 214 | Sweden | Europe | |||
CCC+ | Outlook Negative | Consumer products | Varsity Brands Holding Co. Inc. | 3,000 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Financial institutions | Banco De Galicia Y Buenos Aires S.A.U. | 250 | Argentina | Latin America | |||
CCC+ | Outlook Negative | Financial institutions | Banco Patagonia S.A. | Banco do Brasil S.A. | - | Argentina | Latin America | ||
CCC+ | Outlook Negative | Financial institutions | DriveTime Automotive Group Inc., | 800 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Financial institutions | Muganbank OJSC | - | Azerbaijan | Eastern Europe/Middle East/Africa | |||
CCC+ | Outlook Negative | Financial institutions | Mulhacen Pte. Ltd. | 613 | Singapore | Asia/Pacific | |||
CCC+ | Outlook Negative | Financial institutions | Provident Funding Associates L.P. | 325 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Forest products and building materials | Apex Tool Group, LLC | 1,559 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Forest products and building materials | Distribution International Inc. | DI Purchaser Inc., | - | U.S. | U.S. | ||
CCC+ | Outlook Negative | Forest products and building materials | Millar Western Forest Products Ltd. | Millar Western Industries Ltd. | 114 | Canada | Canada | ||
CCC+ | Outlook Negative | Forest products and building materials | Pro.Gest SpA | 595 | Italy | Europe | |||
CCC+ | Outlook Negative | Forest products and building materials | PT Sawit Sumbermas Sarana Tbk | Yes | - | Indonesia | Asia/Pacific | ||
CCC+ | Outlook Negative | Forest products and building materials | Rayonier Advanced Materials Inc. | 550 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Health care | Aveanna Healthcare LLC | Aveanna Healthcare Holdings Inc. | 1,046 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Health care | Community Health Systems Inc. | 17,194 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Health care | Heartland Dental, LLC | Hadrian Merger Sub Inc. | 1,810 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Health care | Medical Depot Holdings Inc., | 915 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Health care | nThrive Inc., | 751 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Health care | Viant Medical Holdings Inc., | 793 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Health care | Vyaire Medical Inc., | 360 | U.S. | U.S. | |||
CCC+ | Outlook Negative | High technology | Eastman Kodak Co. | - | U.S. | U.S. | |||
CCC+ | Outlook Negative | High technology | Electronics for Imaging Inc., | 1,100 | U.S. | U.S. | |||
CCC+ | Outlook Negative | High technology | Finastra Ltd. | 36,678 | Cayman Islands | U.S. | |||
CCC+ | Outlook Negative | High technology | Natel Engineering Co. Inc., | Natel Engineering Holdings Inc., | 325 | U.S. | U.S. | ||
CCC+ | Outlook Negative | High technology | Priority Holdings, LLC | 1,187 | U.S. | U.S. | |||
CCC+ | Outlook Negative | High technology | Riverbed Parent Inc., | 2,150 | U.S. | U.S. | |||
CCC+ | Outlook Negative | High technology | SuperMoose Newco Inc., | 1,335 | U.S. | U.S. | |||
CCC+ | Outlook Negative | High technology | Transact Holdings Inc., | 260 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Aimbridge Acquisition Co. Inc. | 770 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Beasley Broadcast Group Inc. | 260 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Casablanca Global Intermediate Holdings L.P. | 1,900 | British Virgin Islands | Europe | |||
CCC+ | Outlook Negative | Media and entertainment | ClubCorp Holdings Inc., | 1,600 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Comet Bidco Ltd. | 840 | U.K. | Europe | |||
CCC+ | Outlook Negative | Media and entertainment | CPI Card Group Inc. | 465 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Diamond Resorts International Inc., | 1,990 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | DTI Holdco Inc., | 1,195 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Endeavor Operating Co., LLC | 11,510 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Europcar Mobility Group S.A. | 1,846 | France | Europe | |||
CCC+ | Outlook Negative | Media and entertainment | Excel Fitness Holdings Inc., | 260 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Fitness International, LLC | 1,275 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | HNVR Midco Ltd. | 2,876 | U.K. | Europe | |||
CCC+ | Outlook Negative | Media and entertainment | Hurtigruten Group AS | Silk Holdings Sarl | 1,238 | Norway | Europe | ||
CCC+ | Outlook Negative | Media and entertainment | KUEHG Corp. | 1,387 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Learfield Communications, LLC | 964 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Life Time Inc., | 1,967 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Mohegan Tribal Finance Authority | 97 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Mohegan Tribal Gaming Authority | 1,876 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Odyssey Europe Holdco S.a r.l. | 238 | Luxembourg | Europe | |||
CCC+ | Outlook Negative | Media and entertainment | Peninsula Pacific Entertainment LLC | 275 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | PGX Holdings Inc. | 557 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Promotora de Informaciones S.A. | - | Spain | Europe | |||
CCC+ | Outlook Negative | Media and entertainment | Richmond UK Holdco Ltd. | 1,799 | U.K. | Europe | |||
CCC+ | Outlook Negative | Media and entertainment | Southern Graphics Inc. | 679 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | SP PF Buyer LLC | 439 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Topgolf International Inc., | 350 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Tribe Buyer LLC | 400 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | TUI AG | 357 | Germany | Europe | |||
CCC+ | Outlook Negative | Media and entertainment | United PF Holdings, LLC | 706 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | Vericast Corp. | 3,670 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Media and entertainment | WeWork Companies LLC | Yes | 702 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Metals, mining, and steel | Algoma Steel Inc. | Yes | 285 | Canada | Canada | ||
CCC+ | Outlook Negative | Metals, mining, and steel | Boart Longyear Ltd. | 488 | Australia | Asia/Pacific | |||
CCC+ | Outlook Negative | Metals, mining, and steel | Contura Energy Inc., | 562 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Metals, mining, and steel | Conuma Coal Resources Ltd. | 200 | Canada | Canada | |||
CCC+ | Outlook Negative | Metals, mining, and steel | Ferroglobe PLC | Grupo Villar Mir S.A.U. | - | U.K. | Europe | ||
CCC+ | Outlook Negative | Metals, mining, and steel | Peabody Energy Corp. | Yes | 1,400 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Metals, mining, and steel | Taseko Mines Ltd. | 250 | Canada | Canada | |||
CCC+ | Outlook Negative | Metals, mining, and steel | U.S. Silica Co. | 1,280 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Midstream | Gulf Finance, LLC | 1,150 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Midstream | Woodford Express, LLC | 364 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Ascent Resources Utica Holdings, LLC | 2,700 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Basic Energy Services Inc. | 300 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Callon Petroleum Co. | 1,900 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Centennial Resource Development Inc., | 1,027 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Compania General de Combustibles S.A. | 300 | Argentina | Latin America | |||
CCC+ | Outlook Negative | Oil and gas | Crew Energy Inc. | 229 | Canada | Canada | |||
CCC+ | Outlook Negative | Oil and gas | EnQuest PLC | 650 | U.K. | Europe | |||
CCC+ | Outlook Negative | Oil and gas | Ensign Drilling Inc. | Ensign Energy Services Inc. | 700 | Canada | Canada | ||
CCC+ | Outlook Negative | Oil and gas | Forum Energy Technologies Inc., | 716 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Great Western Petroleum LLC | 600 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Gulfport Energy Corp. | 2,050 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | HGIM Corp. | 350 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | HighPoint Resources Corp. | 675 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | ION Geophysical Corp. | 121 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | MEG Energy Corp. | 2,950 | Canada | Canada | |||
CCC+ | Outlook Negative | Oil and gas | Moss Creek Resources Holdings Inc., | 1,200 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Nabors Industries Ltd. | 3,725 | Bermuda | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Northern Oil and Gas Inc. | 694 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Osum Oil Sands Corp. | 172 | Canada | Canada | |||
CCC+ | Outlook Negative | Oil and gas | Petroquimica Comodoro Rivadavia S.A. | - | Argentina | Latin America | |||
CCC+ | Outlook Negative | Oil and gas | SM Energy Co. | 2,747 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Oil and gas | Tervita Corp. | 610 | Canada | Canada | |||
CCC+ | Outlook Negative | Oil and gas | Tullow Oil PLC | 1,450 | U.K. | Europe | |||
CCC+ | Outlook Negative | Oil and gas | Vesta Energy Corp. | 153 | Canada | Canada | |||
CCC+ | Outlook Negative | Oil and gas | W&T Offshore Inc. | Yes | 625 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Oil and gas | YPF S.A | 1,001,962 | Argentina | Latin America | |||
CCC+ | Outlook Negative | Retail/restaurants | 99 cents only stores LLC | Yes | 434 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Retail/restaurants | BDF Acquisition Corp. | 265 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | Beverages & More Inc., | 190 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | Cooper's Hawk Intermediate Holding, LLC | 200 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | Fogo De Chao Inc., | 365 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | Fresh Market Inc., (The) | 800 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | GPS Hospitality Holding Co. LLC | 265 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | Kirk Beauty One GmbH | 2,745 | Germany | Europe | |||
CCC+ | Outlook Negative | Retail/restaurants | Main Event Entertainment Inc., | Ardent Leisure Ltd. | 200 | U.S. | U.S. | ||
CCC+ | Outlook Negative | Retail/restaurants | Maxeda DIY Group B.V. | 625 | Netherlands | Europe | |||
CCC+ | Outlook Negative | Retail/restaurants | Mister Car Wash Holdings Inc., | 800 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | New Academy Holding Co. LLC | 1,825 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | Petco Holdings Inc. | 3,200 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | PHD Group Holdings LLC | 487 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | Quidditch Acquisition Inc., | 204 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Retail/restaurants | Wok Holdings Inc., | 430 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Telecommunications | Flexential Intermediate Corp. | 1,760 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Telecommunications | IPC Corp. | 1,463 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Telecommunications | Premiere Global Services Inc. | 1,330 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Telecommunications | Syniverse Holdings Inc., | 1,922 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Telecommunications | Telecom Argentina S.A. | 400 | Argentina | Latin America | |||
CCC+ | Outlook Negative | Transportation | Hawaiian Holdings Inc. | - | U.S. | U.S. | |||
CCC+ | Outlook Negative | Transportation | Kenan Advantage Group Inc. | 1,398 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Transportation | United States Shipping Corp. | 220 | U.S. | U.S. | |||
CCC+ | Outlook Negative | Utilities | Aeropuertos Argentina 2000 S.A. | 750 | Argentina | Latin America | |||
CCC+ | Outlook Negative | Utilities | AES Argentina Generacion S.A | AES Corp. (The) | 300 | Argentina | Latin America | ||
CCC+ | Outlook Negative | Utilities | CAPEX S.A. | 300 | Argentina | Latin America | |||
CCC+ | Outlook Negative | Utilities | Compania de Transporte de Energia Electrica en Alta Tension TRANSENER S.A. | 99 | Argentina | Latin America | |||
CCC+ | Outlook Negative | Utilities | ESKOM Holdings SOC Ltd. | 6,312 | South Africa | Eastern Europe/Middle East/Africa | |||
CCC+ | Outlook Negative | Utilities | Pampa Energia S.A. | 1,550 | Argentina | Latin America | |||
CCC+ | Outlook Negative | Utilities | Transportadora de Gas del Sur S.A. (TGS) | Compania De Inversiones de Energia S.A. | 500 | Argentina | Latin America | ||
CCC | CreditWatch Negative | Automotive | USF Holdings LLC | 570 | U.S. | U.S. | |||
CCC | CreditWatch Negative | Capital goods | Praesidiad Group Ltd. | 375 | U.K. | Europe | |||
CCC | CreditWatch Negative | Consumer products | Grupo Kaltex, S.A. de C.V. | 320 | Mexico | Latin America | |||
CCC | CreditWatch Negative | Transportation | Avation PLC | - | U.K. | Europe | |||
CCC | CreditWatch Negative | Transportation | Neovia Logistics Intermediate Holdings, LP | 325 | U.S. | U.S. | |||
CCC | CreditWatch Negative | Transportation | Swissport Group S.a.r.l | 1,971 | Luxembourg | Europe | |||
CCC | Outlook Negative | Automotive | Aston Martin Holdings (UK) Ltd. | Yes | 1,220 | U.K. | Europe | ||
CCC | Outlook Negative | Automotive | Bright Bidco B.V. | Yes | 1,683 | Netherlands | Europe | ||
CCC | Outlook Negative | Automotive | K&N Parent Inc., | 345 | U.S. | U.S. | |||
CCC | Outlook Negative | Automotive | McLaren Group Ltd. | 843 | U.K. | Europe | |||
CCC | Outlook Negative | Automotive | SK HoldCo LLC | 1,370 | U.S. | U.S. | |||
CCC | Outlook Negative | Capital goods | CLISA-Compania Latinoamericana de Infraestructura & Servicios S.A. | 300 | Argentina | Latin America | |||
CCC | Outlook Negative | Capital goods | Form Technologies LLC | 1,103 | U.S. | U.S. | |||
CCC | Outlook Negative | Capital goods | Optimas OE Solutions Holding, LLC | 450 | U.S. | U.S. | |||
CCC | Outlook Negative | Chemicals, packaging, and environmental services | LSB Industries Inc. | Yes | 435 | U.S. | U.S. | ||
CCC | Outlook Negative | Chemicals, packaging, and environmental services | Polymer Additives Holdings Inc., | 405 | U.S. | U.S. | |||
CCC | Outlook Negative | Chemicals, packaging, and environmental services | Strategic Materials Holding Corp. | 315 | U.S. | U.S. | |||
CCC | Outlook Negative | Chemicals, packaging, and environmental services | UFS Holdings Inc., | 254 | U.S. | U.S. | |||
CCC | Outlook Negative | Chemicals, packaging, and environmental services | Viskase Cos. Inc. | 275 | U.S. | U.S. | |||
CCC | Outlook Negative | Consumer products | Anastasia Holdings, LLC | 650 | U.S. | U.S. | |||
CCC | Outlook Negative | Consumer products | Badger Finance, LLC | Badger Intermediate Holdings LLC | 1,172 | U.S. | U.S. | ||
CCC | Outlook Negative | Consumer products | Blue Ribbon Intermediate Holdings LLC | - | U.S. | U.S. | |||
CCC | Outlook Negative | Consumer products | Isagenix Worldwide Inc., | - | U.S. | U.S. | |||
CCC | Outlook Negative | Consumer products | KCIBT Holdings LP | 1,070 | U.S. | U.S. | |||
CCC | Outlook Negative | Consumer products | Lanai Holdings III Inc., | 2,655 | U.S. | U.S. | |||
CCC | Outlook Negative | Consumer products | NSA International, LLC | 450 | U.S. | U.S. | |||
CCC | Outlook Negative | Consumer products | StoneMor Partners L.P. | 385 | U.S. | U.S. | |||
CCC | Outlook Negative | Consumer products | Winebow Group, LLC | 360 | U.S. | U.S. | |||
CCC | Outlook Negative | Financial institutions | Banco Hipotecario S.A. | 350 | Argentina | Latin America | |||
CCC | Outlook Negative | Financial institutions | CCF Holdings LLC | 319 | U.S. | U.S. | |||
CCC | Outlook Negative | Forest products and building materials | InterCement Brasil S.A. | InterCement Participacoes S.A. | - | Brazil | Latin America | ||
CCC | Outlook Negative | Forest products and building materials | Tensar Corp. (The) | Yes | 310 | U.S. | U.S. | ||
CCC | Outlook Negative | Health care | Alcami Corp. | 1,425 | U.S. | U.S. | |||
CCC | Outlook Negative | Health care | ASP NAPA Holdings, LLC | 353 | U.S. | U.S. | |||
CCC | Outlook Negative | Health care | Envision Healthcare Corp. | Envision Healthcare Holdings Inc. | 7,070 | U.S. | U.S. | ||
CCC | Outlook Negative | Health care | Turnstone Midco 2 Ltd. | 833 | U.K. | Europe | |||
CCC | Outlook Negative | High technology | Curvature Inc., | 735 | U.S. | U.S. | |||
CCC | Outlook Negative | High technology | Optiv Inc., | 1,030 | U.S. | U.S. | |||
CCC | Outlook Negative | Homebuilders/real estate companies | Washington Prime Group Inc. | 1,643 | U.S. | U.S. | |||
CCC | Outlook Negative | Media and entertainment | AVSC Holding Corp. | 1,980 | U.S. | U.S. | |||
CCC | Outlook Negative | Media and entertainment | Bioplan USA Inc., | 1,040 | U.S. | U.S. | |||
CCC | Outlook Negative | Media and entertainment | Downstream Development Authority | 555 | U.S. | U.S. | |||
CCC | Outlook Negative | Media and entertainment | Equinox Holdings Inc. | 1,211 | U.S. | U.S. | |||
CCC | Outlook Negative | Media and entertainment | Imagine Group LLC (The) | 524 | U.S. | U.S. | |||
CCC | Outlook Negative | Media and entertainment | Lago Resort & Casino | 290 | U.S. | U.S. | |||
CCC | Outlook Negative | Media and entertainment | Learning Care Group (US) No. 2 Inc. | Learning Care Group (US) Inc. | 710 | U.S. | U.S. | ||
CCC | Outlook Negative | Media and entertainment | Owl Finance Ltd. | Hibu Group Ltd. | 300 | U.K. | Europe | ||
CCC | Outlook Negative | Media and entertainment | Safari Beteiligungs Gmbh | 417 | Germany | Europe | |||
CCC | Outlook Negative | Media and entertainment | Salem Media Group Inc. | 255 | U.S. | U.S. | |||
CCC | Outlook Negative | Media and entertainment | Travel Leaders Group, LLC | 629 | U.S. | U.S. | |||
CCC | Outlook Negative | Media and entertainment | Urban One Inc., | 700 | U.S. | U.S. | |||
CCC | Outlook Negative | Metals, mining, and steel | International Wire Group Holdings Inc. | 260 | U.S. | U.S. | |||
CCC | Outlook Negative | Midstream | Glass Mountain Pipeline, LLC | 300 | U.S. | U.S. | |||
CCC | Outlook Negative | Midstream | Summit Midstream Partners, LP | Yes | 2,200 | U.S. | U.S. | ||
CCC | Outlook Negative | Oil and gas | Athabasca Oil Corp. | 450 | Canada | Canada | |||
CCC | Outlook Negative | Oil and gas | PGS ASA | - | Norway | Europe | |||
CCC | Outlook Negative | Oil and gas | Profrac Services, LLC | 180 | U.S. | U.S. | |||
CCC | Outlook Negative | Oil and gas | Vantage Drilling International | 300 | Cayman Islands | U.S. | |||
CCC | Outlook Negative | Oil and gas | Weatherford International plc | 2,990 | Ireland | Europe | |||
CCC | Outlook Negative | Retail/restaurants | Belk Inc., | 1,058 | U.S. | U.S. | |||
CCC | Outlook Negative | Retail/restaurants | Burger BossCo Intermediate Inc., | 193 | U.S. | U.S. | |||
CCC | Outlook Negative | Retail/restaurants | Jo-Ann Stores Holdings Inc. | - | U.S. | U.S. | |||
CCC | Outlook Negative | Retail/restaurants | Miller's Ale House Inc., | 271 | U.S. | U.S. | |||
CCC | Outlook Negative | Retail/restaurants | Party City Holdings Inc., | PC Nextco Holdings LLC | 2,223 | U.S. | U.S. | ||
CCC | Outlook Negative | Telecommunications | Cyxtera DC Holdings Inc., | 1,225 | U.S. | U.S. | |||
CCC | Outlook Negative | Telecommunications | Logix Intermediate Holding Corp. | 250 | U.S. | U.S. | |||
CCC | Outlook Negative | Transportation | Toro Private Holdings I, Ltd. | 3,300 | U.K. | Europe | |||
CCC | Outlook Negative | Utilities | Empresa Distribuidora Y Comercializadora Norte S.A. | 300 | Argentina | Latin America | |||
CCC | Outlook Negative | Utilities | GCL New Energy Holdings Ltd. | GCL-Poly Energy Holdings Ltd. | 500 | Bermuda | U.S. | ||
CCC | Outlook Negative | Utilities | Investimentos e Participacoes em Infraestrutura S.A. - Invepar | - | Brazil | Latin America | |||
CCC- | CreditWatch Negative | Consumer products | Selecta Group B.V. | 1,753 | Netherlands | Europe | |||
CCC- | CreditWatch Negative | Financial institutions | Corp Group Banking S.A. | Inversiones CorpGroup Interhold, Ltda. | Yes | 500 | Chile | Latin America | |
CCC- | CreditWatch Negative | Health care | Mallinckrodt plc | Yes | 10,224 | Ireland | Europe | ||
CCC- | CreditWatch Negative | Homebuilders/real estate companies | Sunshine 100 China Holdings Ltd. | - | Cayman Islands | U.S. | |||
CCC- | CreditWatch Negative | Telecommunications | Alorica Inc. | 1,063 | U.S. | U.S. | |||
CCC- | CreditWatch Negative | Telecommunications | Maxcom Telecomunicaciones, S.A.B. de C.V. | 57 | Mexico | Latin America | |||
CCC- | CreditWatch Negative | Transportation | Gol Linhas Aereas Inteligentes S.A. | - | Brazil | Latin America | |||
CCC- | Outlook Negative | Capital goods | Hoover Group Inc., | 225 | U.S. | U.S. | |||
CCC- | Outlook Negative | Capital goods | MAI Holdings Inc., | 135 | U.S. | U.S. | |||
CCC- | Outlook Negative | Consumer products | Iconix Brand Group Inc. | - | U.S. | U.S. | |||
CCC- | Outlook Negative | Consumer products | Jill Acquisition LLC | Jill Holdings LLC | 290 | U.S. | U.S. | ||
CCC- | Outlook Negative | Consumer products | KNB Holdings Corp. | 295 | U.S. | U.S. | |||
CCC- | Outlook Negative | Consumer products | Missouri TopCo Ltd. | 606 | U.K. | Europe | |||
CCC- | Outlook Negative | Consumer products | Novartex | - | France | Europe | |||
CCC- | Outlook Negative | Consumer products | Renfro Corp. | 230 | U.S. | U.S. | |||
CCC- | Outlook Negative | Consumer products | Takko Fashion S.a.r.l. | Yes | 607 | Luxembourg | Europe | ||
CCC- | Outlook Negative | Health care | CDRH Parent Inc., | 1,590 | U.S. | U.S. | |||
CCC- | Outlook Negative | High technology | Navico Group AS | 260 | Norway | Europe | |||
CCC- | Outlook Negative | Homebuilders/real estate companies | IRSA Inversiones y Representaciones S.A. | Cresud S.A.C.I.F. y A. | 360 | Argentina | Latin America | ||
CCC- | Outlook Negative | Homebuilders/real estate companies | PT Alam Sutera Realty Tbk. | 545 | Indonesia | Asia/Pacific | |||
CCC- | Outlook Negative | Media and entertainment | Central Security Group Inc., | 400 | U.S. | U.S. | |||
CCC- | Outlook Negative | Media and entertainment | Exela Technologies Inc. | 2,396 | U.S. | U.S. | |||
CCC- | Outlook Negative | Media and entertainment | Hornblower HoldCo, LLC | Yes | 655 | U.S. | U.S. | ||
CCC- | Outlook Negative | Metals, mining, and steel | Mountain Province Diamonds Inc. | 660 | Canada | Canada | |||
CCC- | Outlook Negative | Oil and gas | Jonah Energy LLC | 2,100 | U.S. | U.S. | |||
CCC- | Outlook Negative | Oil and gas | Oasis Petroleum Inc. | 2,475 | U.S. | U.S. | |||
CCC- | Outlook Negative | Oil and gas | Vine Oil & Gas LP | 1,760 | U.S. | U.S. | |||
CCC- | Outlook Negative | Retail/restaurants | Foodco Bondco SAU | 798 | Spain | Europe | |||
CCC- | Outlook Negative | Retail/restaurants | Guitar Center Inc. | Guitar Center Holdings Inc. | 946 | U.S. | U.S. | ||
CCC- | Outlook Negative | Retail/restaurants | Steak n Shake Inc. | Biglari Holdings Inc. | 220 | U.S. | U.S. | ||
CCC- | Outlook Negative | Transportation | Azul S.A. | - | Brazil | Latin America | |||
CC | CreditWatch Negative | High technology | Technicolor S.A. | 1,163 | France | Europe | |||
CC | Outlook Negative | Consumer products | Revlon Inc. | 3,117 | U.S. | U.S. | |||
CC | Outlook Negative | Media and entertainment | Buena Vista Gaming Authority | 205 | U.S. | U.S. | |||
CC | Outlook Negative | Media and entertainment | Codere S.A. | 997 | Spain | Europe | |||
CC | Outlook Negative | Oil and gas | FTS International Inc., | 1,050 | U.S. | U.S. | |||
CC | Outlook Negative | Oil and gas | Superior Energy Services Inc. | 1,300 | U.S. | U.S. | |||
CC | Outlook Negative | Retail/restaurants | Distribuidora Internacional de Alimentacion S.A. | 714 | Spain | Europe | |||
CC | Outlook Negative | Retail/restaurants | Hema B.V. | AMEH XXVI B.V. | 119 | Netherlands | Europe | ||
CC | Outlook Negative | Telecommunications | iQor Holdings Inc. | 820 | U.S. | U.S. | |||
CC | Outlook Negative | Telecommunications | Oi S.A. | 1,654 | Brazil | Latin America | |||
CC | Outlook Negative | Transportation | SAS AB | - | Sweden | Europe | |||
CC | Outlook Negative | Utilities | Ferrellgas L.P. | Ferrellgas Partners L.P. | 4,350 | U.S. | U.S. |
For additional information regarding weakest links, please see our most recent quarterly publication.
Related Research
- The Still-High Weakest Links Tally Contracts As Defaults Rise, Aug. 19, 2020
- Credit And Economic Deterioration Signals A Rising European Speculative-Grade Default Rate Despite Market Optimism, Aug. 19, 2020
- The Gap Between Market Expectations And Credit-Based Indications Of U.S. Defaults Is Growing, Aug. 28, 2020
- The 2020 U.S. Corporate Default Tally Has Exceeded A Four-Year High, July 24, 2020
- Global Financing Conditions: Bond Issuance Is Expected To Finish 2020 Up 6% After A Strong Second Quarter, July 28, 2020
This report does not constitute a rating action.
Credit Markets Research: | Nicole Serino, New York + 1 (212) 438 1396; nicole.serino@spglobal.com |
Sudeep K Kesh, New York (1) 212-438-7982; sudeep.kesh@spglobal.com |
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