Standard & Poor’s (S&P) on Thursday downgraded Eletson Holding’s debt to “SD" (shorthand for 'selective default'), one week after the company struck a forbearance agreement with a majority group of bondholders.
A full version of S&P’s rating decision was not immediately available. However, it follows a 15 February agreement between Eletson and bondholders representing 80% of owners of a 9.625%
