1427 ET - S&P Global Ratings pushes WW International, formerly Weight Watchers International, further into junk territory, cutting the company's credit rating to CCC- from CCC with a negative outlook. S&P says WW recently borrowed $121.3 million from its $175 million revolving credit facility, pushing the aggregate principal amount of borrowings to $175 million. "We believe this signals the company is in financial distress and it is increasingly likely it will default, which could include a bankruptcy or an out of court restructuring, over the next six months," S&P says. The agency also says its outlook reflects the belief WW is vulnerable to a near-term payment default, covenant breach, or distressed exchange over the next six months. (stephen.nakrosis@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 14:27 ET (19:27 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.