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Prospect News home > News index > List of issuers M > Headlines for MIE Holdings Corp. > News item
Published on 4/12/2019 in the Prospect News Convertibles Daily, Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

S&P cuts MIE Holdings to SD

S&P said it lowered its long-term issuer credit rating on MIE Holdings Corp. to SD from CC and also lowered the long-term issue rating on MIE's outstanding senior unsecured notes due 2019 to D from C.

“We lowered the ratings because MIE has completed an exchange offer for its senior unsecured notes due April 25, 2019. We view the transaction as a distressed exchange since investors will receive significantly less than what they were promised for the original securities on the maturity date,” S&P said in a news release.


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