North America Biweekly Credit Report Summary

Data Insight 14 November

North America Biweekly Credit Report Summary

The North America Biweekly Credit Report Summary presents snapshots of research published by the Credit Research team during the two preceding weeks. The report aims to keep our subscribers informed of the biweekly research publications by providing ease of access to centralized information and the opportunity to catch-up on any research missed by readers over the prior two weeks. Each summary will include the company’s capital structure and performance summary. 

This week's edition includes coverage of our most viewed credit report, Party City, which announced a corporate workforce reduction of 19% and reduced FY22 annual guidance for the third time in the year. This week’s edition also includes Mexican company Financiera Independencia, which continues growing its US portfolio and working towards issuing an ABS in 4Q22-1Q23 to work towards a refinancing solution for the 2024s. 

The report highlights the following companies with a recovery rate of less than 100% for their unsecured debt including no value for the equity shareholders.

  • Cooper-Standard
  • SmileDirectClub
  • Carrols Restaurants
  • Akumin Inc.

The report also highlights 4 companies that recently released worse-than-expected earnings:

  • Cooper-Standard
  • Frontier
  • Party City
  • Akumin Inc.

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