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, performance summary and the Debtwire Likely to Distress (LTD) Predictive Analytics.

This week’s edition includes coverage of our most viewed credit report, Mega, which has failed in its attempt for an early refinancing of its 2025 notes with new 2028s. It terminated an exchange offer due to an inability to reach the 50% minimum participation condition.

Based on our valuation analysis, the following companies had less than 100% coverage for its secured debt:

• Trineso
• Cano Health
• Curo Group
• Innovate Group

Based on our valuation analysis, the following companies had less than 100% coverage for its unsecured debt:

• Buzzfeed