Prospect News reports two new defaults for Jan. 11 to Jan. 17, S&P one

By Caroline Salls

Pittsburgh, Jan. 19 – Prospect News reported two new defaults for the week of Jan. 11 through Jan. 17 in the form of a Chapter 11 bankruptcy filing made by Eclipse Berry Farms, LLC and Carillion plc’s compulsory liquidation.

In addition, Prospect News reported a Chapter 11 bankruptcy filing made by EXCO Resources, Inc. However, EXCO previously defaulted in connection with a Dec. 20 missed interest payment.

So far in 2018, Prospect News has reported eight defaults, including four Chapter 11 bankruptcy filings and one each of bankruptcies, restructurings, compulsory liquidations and missed principal and interest payments.

Meanwhile, Standard & Poor’s reported one default this week, bringing its year-to-date total to four defaults.

S&P said the latest default came from BIS Industries Ltd., marking the first default of the new year in the capital goods sector.

The oil and gas sector accounts for two of the four defaults in 2018, S&P said, while the chemicals, packaging and environmental services sector and capital goods sector account for one each.

So far in 2018, S&P said two defaulting issuers are based in the United States, one is from Europe, and one is from the other developed region.

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