Bankruptcy & Restructuring News Headlines for Wednesday Jun 9, 2021

Here's what we are reading this morning:

Fitch Downgrades Three Classes of UBS-BB 2012-C4: The downgrades of the subordinate classes reflect Fitch's increased loss expectations from the specially serviced loans while the affirmations of the senior classes reflect the continued amortization and significant defeasance. There are four loans in special servicing (14.9% of the current pool balance) and 10 loans (24.1%), including the specially serviced loans, that have been designated as Fitch Loans of Concern (FLOCs).

Chicago Park District pension revamp takes fund off road to insolvency | Bond Buyer: Like the city's pension funding revisions, the park district's plan ramps up to actuarial payments but it's alone in aiming for a 100% funding target.

Some Companies Are Taking Longer to Pay Suppliers Despite Recovery - WSJ: Macy’s and Mondelez are among the businesses negotiating longer payment terms after getting used to them during the coronavirus pandemic.

Former Fed Vice Chair Kohn Worries Inflation Risks Are Rising - Bloomberg: Former Federal Reserve Vice Chairman Donald Kohn voiced concern on Tuesday that the U.S. central bank is not well-positioned to deal with a rising threat of faster inflation.

Ship Orders Surge as Carriers Rush to Add Capacity - WSJ: Orders for new container ships in the first five months of this year were nearly double the orders for all of both 2019 and 2020, with the biggest gains going to shipyards in South Korea and China.

MoviePass Deceived Users So They’d Use It Less, F.T.C. Says - The New York Times: Federal regulators detailed tactics the company, which settled accusations against it, used to try to make its most active users go to the movies less.

Farewell, Millennial Lifestyle Subsidy - The New York Times: The price for Ubers, scooters and Airbnb rentals is going up as tech companies aim for profitability.

Lordstown Motors Amends Annual Filing With Going Concern Notice - WSJ: Electric-truck startup Lordstown Motors Corp. disclosed in a new regulatory filing Tuesday that it doesn’t have sufficient cash to start commercial production and has doubts about whether it can continue as a going concern through the end of the year.

Fans of bankrupt Casa Bonita purchase some of restaurant's debt | Save Case Bonita, LLC wanted to help some small vendors who are owed money, so the group bought the debt.

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