Research Update: Intrum Downgraded To 'SD' After Missing Interest Payments; Rated Notes Lowered To 'D' - S&P Global Ratings’ Credit Research

Research Update: Intrum Downgraded To 'SD' After Missing Interest Payments; Rated Notes Lowered To 'D'

Research Update: Intrum Downgraded To 'SD' After Missing Interest Payments; Rated Notes Lowered To 'D' - S&P Global Ratings’ Credit Research
Research Update: Intrum Downgraded To 'SD' After Missing Interest Payments; Rated Notes Lowered To 'D'
Published Jan 28, 2025
4 pages (1599 words) — Published Jan 28, 2025
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

During its recapitalization process, Nordic debt collector Intrum AB (publ) has missed paying the coupon interest on its outstanding market debt. As a result of the missed interest payments, we lowered our long-term issuer credit rating on Intrum to 'SD' from 'CC' and the issue ratings on its senior unsecured notes to 'D' from 'CC'. In parallel, Intrum has continued to make progress on its recapitalization efforts and it received confirmation for its Chapter 11 plan on Dec. 31, 2024, and filed for a Swedish Company Reorganization process. Our recovery ratings remain unchanged at '4' (40%) and we will re-evaluate the company's creditworthiness once it emerges from its restructuring process, which we expect to be concluded during the second quarter

  
Brief Excerpt:

...- During its recapitalization process, Nordic debt collector Intrum AB (publ) has missed paying the coupon interest on its outstanding market debt. - As a result of the missed interest payments, we lowered our long-term issuer credit rating on Intrum to '##' from '##' and the issue ratings on its senior unsecured notes to 'D' from '##'. - In parallel, Intrum has continued to make progress on its recapitalization efforts and it received confirmation for its Chapter 11 plan on Dec. 31, 2024, and filed for a Swedish Company Reorganization process....

  
Report Type:

Research Update

Issuer
Intrum AB (publ)
Sector
Global Issuers
Country
Sweden
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Intrum Downgraded To 'SD' After Missing Interest Payments; Rated Notes Lowered To 'D'" Jan 28, 2025. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Intrum-Downgraded-To-SD-After-Missing-Interest-Payments-Rated-Notes-Lowered-To-D-3314981>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Intrum Downgraded To 'SD' After Missing Interest Payments; Rated Notes Lowered To 'D' Jan 28, 2025. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Intrum-Downgraded-To-SD-After-Missing-Interest-Payments-Rated-Notes-Lowered-To-D-3314981>
  
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