• Weekly Review: Banking sector totters, and bond market tries to chart a course

• Canadian Solar lowers leverage ratio to 2.5x from 3.4x at end of 2021
• Chart Industries expects to get leverage in high twos by end of 2024
• Clarivate to use $400 million of free cash flow to de-lever below 4x
• Commercial Metals has 0.5x debt ratio, cash to tackle 2023 maturities
• Dynagas decreases net leverage ratio to 4.7x from 6.6x in early 2021
• Fiserv has about $17 million revenue in SVB, Signature Bank, CFO says
• Mountain Province boosts balance sheet with refi, has 1.8x debt ratio
• UBS will have access to Swiss liquidity to manage Credit Suisse debt

• Weekly Review: Regional bank collapses chill new issuance as markets recalibrate

• Akumin plans to reduce leverage ratio through expected EBITDA growth
• Algonquin Power to increase parent credit facility, extend maturity
• American Airlines to chip away at debt load with free cash flow
• Charles River Labs continues lowering leverage through debt repayment
• Delta continues cutting interest expense through liability management
• Dole keeps lowering leverage with eye on costs as interest rates rise
• Inspired Entertainment cuts leverage ratio to 2.6x from 4.2x in 2022
• Lennar sees flexibility, interest savings after repaying senior notes
• Nine Energy to continue deleveraging after revising capital structure
• Pfizer expects unchanged IG ratings from $31 billion acquisition debt

• Weekly Review: Investment-grade bond issuance stays at rapid pace as Friday takes a turn

• Ciena sees record $1.06 billion revenue in Q1; cash levels are high
• Darling to cut leverage to 2.75x in bid for investment-grade ratings
• Earthstone cuts debt ratio to 0.8x; 2022 sees record adjusted EBITDAX
• Gap sees positive free cash flow in Q4, aims to pay $350 million debt
• HNI deal to drive leverage to 2.3x, adjusted EBITDA to $290 million
• Microchip Technology used free cash flow to pay debt over 18 quarters
• United Natural drives leverage to 2.6x with $430 million Q2 debt cut
• Victoria’s Secret eyes at least $300 million free cash flow in 2023
• Winnebago has 0.67x debt ratio, below targeted range of 0.9x to 1.5x

• Weekly Review: Issuers emerge in droves for new debt, including over 60 new IG bonds

• Coinbase aims to lift adjusted EBITDA via cuts in operating expenses
• LKQ to take debt ratio to 2.4x with new debt for Uni-Select purchase
• Macy’s gets debt ratio to 2x, pays down $1.8 billion debt since 2021
• New Fortress lifts liquidity by boosting revolver, letter of credit
• Northern Oil leverage is ‘modestly’ higher, will decrease by year-end
• Norwegian increases liquidity, pushes out maturities via refi actions
• PRA lifts liquidity with leverage-neutral notes sale, revolver refi
• SeaWorld posts record adjusted EBITDA for 2022; debt ratio is 2.78x
• Six Flags expects interest cost to rise, then fall as it manages debt

• Weekly Review: Convertible bond sector in focus during Feb. 20 week; corporate issuers subdued

• AMC focuses on balance sheet, continues tackling upcoming maturities
• CenterPoint to pay floating-rate, high-coupon debt in coming months
• Cinemark repays $21 million of debt in 2022, fortifying balance sheet
• Constellium leverage ratio drops to 2.8x despite higher costs in 2022
• Toll Brothers sees demand rise, stays cautious and keeps deleveraging

• Weekly Review: Junk bond primary shutters while IG issuers get through as winds shift

• Crocs focuses on deleveraging to 2x gross leverage ratio from 2.25x
• FIS to spin off Worldpay; companies seek different capital structures
• Garrett boosts balance sheet, cutting leverage, redeeming preferreds
• Mercer weighs possibility its financing structure may not be extended
• Restaurant Brands aims to reach mid-4x debt ratio within three years
• Taylor Morrison weighs refinancing options for notes due March 2024
• Weatherford keeps cutting debt; makes strong balance sheet a priority

• Weekly Review: Megadeals, well-known issuers color Feb. 6 week as market players seek direction

• Aurora Cannabis buys back C$135 million of convertible debt during Q2
• Energizer makes debt paydown highest priority, pays down $100 million
• Penske has 3.8% average coupon on fixed-rate debt; leverage is 0.8x
• Royal Caribbean repays $600 million of debt in Q4, targets IG metrics

• Weekly Review: Tides come in, tides go out; bond issuers feel good about conditions

• Allegiant may raise $450 million new debt, boosting debt ratio to 3x
• Ford sees record free cash flow in 2022 despite supply chain issues
• HanesBrands to direct all free cash flow toward reducing leverage
• Meritage sees choppy home sales; balance sheet discipline prescribed

• Weekly Review: Oversubscriptions abound for debt markets with issuers utilizing open January window

• American cuts more debt; demand is strong; revenues at record highs
• Charter to remain in high end of 4x to 4.5x targeted debt ratio range
• NextEra: High cash generation wipes out $3 billion in 2023 maturities
• Valero pays all Covid debt, with $2.7 billion of debt repaid in 2022
• Verizon sees floating-rate debt costs rise in high-rate environment

• Weekly Review: Third week of January provides golden opportunity for issuers

• Delta hopes to be investment-grade by 2024, pays down debt with cash
• Goldman Sachs: Interest rate hikes affect inflation, economic growth
• Netflix expects $3 billion free cash flow; little debt due until 2025
• United continues paying down debt, expects 3x debt ratio by year-end