Logistics provider Neovia has restructured its debt, but a report from S&P Global Ratings said the company is likely to receive a rating on its new debt that is still deep into junk bond territory.
In a report released earlier this month, S&P Ratings said it would expect Neovia to have a rating for its post-restructuring debt of no higher than CCC+.
“A ‘CCC+’ issuer credit rating indicates the appearance of an unsustainable capital structure without a specific envisioned default scenario over the...