S&P puts Emerald X on watch

S&P said it placed its B+ ratings on Emerald X Inc. and its senior secured credit facility on CreditWatch with negative implications.

The CreditWatch placement on Emerald X, Inc. reflects its vulnerability to event cancellations stemming from the Covid-19 pandemic and the limited visibility into how widespread and drawn-out the effect will be. Companies have increasingly imposed restrictions on their employees' nonessential travel through February and March, which has led to the cancellation or postponement of numerous conferences worldwide in the first quarter, the agency said.

“In resolving the CreditWatch placement, we will evaluate new information regarding the spread of Covid-19 and its impact on Emerald's operating performance, liquidity, and cash flows,” S&P said in a press release.

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