Research Update: Intrum AB Ratings Lowered To 'D' From 'SD' On Correction Of Criteria Misapplication

We're correcting a previous misapplication of our criteria "Principles Of Credit Ratings" by lowering our long- and short-term issuer credit ratings on Swedish distressed debt purchaser Intrum AB (publ) to 'D' from 'SD' (selective default), in accordance with paragraph 2 of this criteria. The ratings on Intrum remain subject to its emergence from its recapitalization procedures, which we expect to conclude by July 2025. These procedures will constitute the exchange of its existing notes with new obligations and issuance of additional equity to bondholders, in accordance with the conditions set out in its prepackaged Chapter 11 plan. We will re-evaluate the company's creditworthiness and its revised capital structure once it has executed its recapitalization procedures. On May 2, 2025, S&P

...- We're correcting a previous misapplication of our criteria "Principles Of Credit Ratings" by lowering our long- and short-term issuer credit ratings on Swedish distressed debt purchaser Intrum AB (publ) to 'D' from '##' (selective default), in accordance with paragraph 2 of this criteria. - The ratings on Intrum remain subject to its emergence from its recapitalization procedures, which we expect to conclude by July 2025. These procedures will constitute the exchange of its existing notes with new obligations and issuance of additional equity to bondholders, in accordance with the conditions set out in its prepackaged Chapter 11 plan. - We will re-evaluate the company's creditworthiness and its revised capital structure once it has executed its recapitalization procedures....

Research Update