...- A significant decline in distressed real estate volume stemming from regulatory restrictions such as foreclosure moratoriums has adversely impacted California-based Auction.com Holding Co. Inc.'s operating performance during 2020 and the first quarter of 2021. - The company has mitigated revenue pressures by implementing significant cost-reduction initiatives over the last year, thereby moderating free cash flow usage. - S&P Global Ratings expects the company's performance will remain challenged in 2021 as foreclosure moratoriums currently slated to end June 30 could be extended further and it could take up to a year to build inventory once moratoriums are lifted. - Notwithstanding, we affirmed our 'B-' issuer credit rating to reflect that the company has sufficient liquidity to address any cash flow deficits that might arise while foreclosure volumes remain depressed and that it could benefit from higher distressed real estate volumes over time once foreclosure moratoriums are lifted,...
