The Buttonwood Tree • 1st December 2020

New High Yield Bond Ratings November 23 - November 27, 2020

At least 23 companies received downgrades or revisions on high yield bond ratings during the week of November 23 – November 27, 2020. These downgrades caused S&P Global Ratings to issue a negative or watch negative outlook to all of the companies. The Energy sector saw the majority of downgrades during this week. Here is a snapshot of some downgrades throughout the week: Urban One, Inc., a U.S. content distributor representing Black America, received affirmation of its CCC issuer credit rating

The Buttonwood Tree • 4th November 2020

New High Yield Bond Ratings October 26 - October 30, 2020

At least 24 companies received downgrades or revisions on high yield bond ratings during the week of October 26 – October 30, 2020. These downgrades caused S&P Global Ratings to issue a negative or watch negative outlook to all of the companies. The Energy sector saw the majority of downgrades during this week.

The Buttonwood Tree • 12th October 2020

Graceland to Host Miss USA Pageant as Neighboring Hotel Files Chapter 11

Graceland, the home of Elvis Presley in Memphis, TN, is set to host the sold out 2020 Miss USA pageant this November. However, a neighboring tourist hotel, The Travelodge by Wyndham, filed for Chapter 11 bankruptcy on September 15.

The Buttonwood Tree • 1st October 2020

Impresa Aerospace Files Bankruptcy, Cites Grounded 737 Max and COVID

Impresa Holdings Acquisition Corp., a California-based, privately owned company, filed for bankruptcy on September 24. It reported losses due to 737 Max production cuts and COVID-19.

The Buttonwood Tree • 28th September 2020

New High Yield Bond Ratings September 21- September 25, 2020

At least nine companies received downgrades or revisions on high yield bond ratings during the week of September 21 – September 25, 2020. These downgrades caused S&P Global Ratings to issue a negative or watch negative outlook to the companies. Consumer Discretionary saw the majority of downgrades during this week.

The Buttonwood Tree • 24th September 2020

GNC Wins Court Approval for Chinese Shareholder Purchase

GNC Holdings Inc. won a Delaware court's approval on September 17 to sell itself to the Chinese company Harbin Pharmaceutical Holding Co. for $770 million.

The Buttonwood Tree • 17th September 2020

Howmet Aerospace Receives Ratings Downgrade amid Delivery Delays

Howmet Aerospace Inc., an American aerospace manufacturer located in Pittsburgh, Pennsylvania, has delayed its commercial jet deliveries due to the global COVID-19 pandemic.

The Buttonwood Tree • 11th September 2020

The Knot Preserves Revenue with Advertiser Retention Plans

The Knot Worldwide Inc, an online wedding planning company, implemented special advertiser retention plans this year to protect pre-pandemic revenue.

The Buttonwood Tree • 4th September 2020

Jason Holdings Emerges from Chapter 11 with Negative Outlook

Jason Holdings Inc., a Milwaukee-based industrial manufacturing company, received a negative outlook from S&P Global Ratings after finalizing its Chapter 11 bankruptcy.

The Buttonwood Tree • 2nd September 2020

PGE Absorbs $104 Million Loss, Receives Negative Outlook

Portland General Electric, a Fortune 1000 public utility company based in Portland, Oregon, is absorbing at least $104 million after two employees entered into "ill conceived" trades in 2020.

The Buttonwood Tree • 14th August 2020

Stein Mart Files Chapter 11, Plans Liquidation Sales

After 112 years in business, U.S. discount chain Stein Mart filed for Chapter 11 bankruptcy on Wednesday, August 12. The company, headquartered in Jacksonville, FL., expects to begin liquidation sales soon.

The Buttonwood Tree • 13th August 2020

'The Rock' and Investors Plan to Revive XFL

After filing for Chapter 11 bankruptcy this year on April 13, the XFL secured a deal three months later with Dwayne "The Rock" Johnson and his investors for $15 million.

The Buttonwood Tree • 6th August 2020

Remington Bankruptcy Has Potential to Delay Sandy Hook Lawsuits

The latest bankruptcy filing by gunmaker Remington Arms Company may delay lawsuits connected to the Sandy Hook school massacre.

The Buttonwood Tree • 29th July 2020

Ann Taylor Files Bankruptcy, Hangs Up "Power Suit"

Ascena Retail Group, owner of the popular women's fashion brand Ann Taylor, filed for the Chapter 11 protection on Thursday, July 23. The company cited declining sales and high debt due to the COVID-19 lockdown measures.

The Buttonwood Tree • 24th July 2020

Travel Leaders Group Receives Rating Downgrade

Travel Leaders Group LLC, an Internova company, received a ratings downgrade on both its issuer credit rating and its senior secure credit facility. S&P Global Ratings on July 17, 2020 downgraded the ratings from B- to CCC, due to the heavy restrictions placed on travel surrounding the COVID-19 crisis.

The Buttonwood Tree • 21st July 2020

New High Yield Bond Ratings

At least seven companies received high yield bond ratings downgrades or revisions during the week of July 13 – July 17, 2020. These downgrades caused S&P Global Ratings to issue a negative or watch negative outlook for four of the companies. The Consumer Discretionary sector saw the majority of downgrades during this week.

The Buttonwood Tree • 21st July 2020

Muzak Silenced, Files For Bankruptcy

Mood Media, owner of Muzak, has filed for Chapter 11 Bankruptcy protection. Muzak is famous for the instrumental pop sounds heard in elevators, retail locations, public facilities, and other Consumer Discretionary venues. The filing will reduce the company’s debt by $680 million.

The Buttonwood Tree • 16th July 2020

Life Time Inc. Secures Loan, Gets Negative Outlook Amid COVID-19 Surge

Minnesota-based fitness club Life Time Inc., also known as Lifetime Fitness, has secured a 364-day $101.5 million loan as of June 24, 2020, according to S&P Global Ratings. The loan, backed by the company's ownership group, was intended to assist the company's operational expenditures through 2021.

The Buttonwood Tree • 9th July 2020

NY-Based Eatery Fig & Olive Files Chapter 11 Bankruptcy

Fig & Olive, the New York-based restaurant owned by Luxury Dining Group, has filed for Chapter 11 bankruptcy protection.

The Buttonwood Tree • 8th July 2020

Nissan Rating Lowered, Production Cuts to Follow

Nissan Motor Acceptance Corp received a rating downgrade this week, going from BBB to BBB- as of July 3, 2020. The company’s plans to shut down some of its overseas plants caused S&P Global Ratings to assume a higher risk assessment.