On April 27, 2020 the BDC Credit Reporter pro-actively downgraded Capstone Logistics Acquisition to a Corporate Credit Rating of 3 from a CCR of 2. Capstone is “an outsourced supply-chain-solutions provider offering freight handling services, supply-chain consulting, and management of distribution centers“. We downgraded the company, and the $128mn in BDC debt due to our concerns what the national shut-down of business activity may have had on business activity given the leveraged nature of Capstone.
Category: Preliminary
Verifone Inc.: Downgraded To CCR 3
PRELIMINARY: On April 25, 2020, the BDC Credit Reporter downgraded Verifone Inc. (dba Verifone Systems) to a Corporate Credit Rating of 3, based on a recent downgrade by Moody’s and market conditions.