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T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, August 22, 2020, Vol. 24, No. 234
Headlines
CARPENTER TECHNOLOGY: Egan-Jones Cuts Sr. Unsecured Ratings to BB
HUSKY ENERGY: Egan-Jones Lowers Senior Unsecured Ratings to B
IMH FINANCIAL: Files Initial Monthly Operating Report
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CARPENTER TECHNOLOGY: Egan-Jones Cuts Sr. Unsecured Ratings to BB
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Egan-Jones Ratings Company, on August 14, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Carpenter Technology Corporation to BB from BB+.
Headquartered in Philadelphia, Pennsylvania, Carpenter Technology
Corporation manufactures, fabricates, and distributes stainless
steels, titanium, and specialty metal alloys.
HUSKY ENERGY: Egan-Jones Lowers Senior Unsecured Ratings to B
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Egan-Jones Ratings Company, on August 11, 2020, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Husky Energy Incorporated to B from B+. EJR also
downgraded the rating on commercial paper issued by the Company to
B from A3.
Headquartered in Calgary, Canada Husky Energy Incorporated is
involved in the exploration, development, and production of crude
oil and natural gas in Canada and in international areas.
IMH FINANCIAL: Files Initial Monthly Operating Report
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IMH Financial Corporation filed an initial monthly operating report
on August 7, 2020.
The Debtor's Initial MOR includes a cash flow projection for the
12-month period covering the period from August 1, 2020 through
July 31, 2021.
The Debtor projects cash receipts to total $96,084 and
disbursements to total $92,447 for the 12-month period ending in
July 31, 2021.
The Initial MOR also include a schedule of retainers paid to
professionals. Among the Debtor's bankruptcy professionals are
Ashby & Geddes, Donlin Recan and Company Inc, and Snell Wilmer
LLP.
A copy of the initial monthly operating report is available at:
https://bit.ly/3azVRwC
About IMH Financial Corporation
IMH Financial Corporation -- https://www.imhfc.com -- is a real
estate investment holding company. The Company's most significant
real estate assets include: (a) a luxury hotel located in Sonoma,
California, and (b) thousands of acres of undeveloped real property
and related water rights located outside of Albuquerque, New
Mexico. The Company's real estate investments are located
primarily in the southwestern part of the United States, and are
held by wholly-owned or indirectly wholly-owned subsidiaries, none
of which are in bankruptcy.
IMH Financial Corporation filed for bankruptcy protection (Bankr.
D. Del., Case No. 20-11858) on July 23, 2020. The petition was
signed by Chadwick S. Parson, chairman and CEO. Hon. Brendan
Linehan Shannon presides over the case.
The Debtor estimated $100 to $500 million in assets and
liabilities.
Ashby & Geddes PA and Snell & Wilmer LLP have been tapped as
bankruptcy counsel to the Debtor. Donlin, Recano & Co., Inc. is
the Debtor's claim and noticing agent.
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then-ending.
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S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
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Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
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Copyright 2020. All rights reserved. ISSN: 1520-9474.
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