Moody's "Bottom Rung" Lists 283 Companies at Risk of Default

Moody's Investors Service published a new list on Tuesday called the Bottom Rung, which details companies that the ratings agency says are most likely to default on their debts. Moody's estimates that 45 percent of the companies on the list with default on debt in the next year.

Defaulting on debt does not necessarily mean bankruptcy; it can also include missing something such as a debt payment.

Nearly every sector of the economy is represented on the list. Dominant industries on the list include most of the U.S. auto industry, retail chains, newspapers, casinos, broadcast TV, and radio station networks. Airlines, restaurant chains, and energy firms also appear on the list often.

The Bottom Rung will be updated monthly, and represents about the riskiest 15 percent of all companies that it tracks.

To compile the list, Moody's chose companies with the lowest credit ratings (B3 or below), whose ratings were either negative or under review. Moody's B3 rating is the 16th lowest out of 21.

Applying this same methodology retroactively to 2008, there would have been 157 companies. 60 of which would have eventually defaulted.

The full list of 283 companies includes (for ratings and addition information you'll need a Moody's subscription):

155 East Tropicana
Accellent Inc
Accuride Corporation
ACIH Inc.
Advanced Micro Devices Inc
Advanstar Communications Inc
Affinity Group Holding Inc
AGS LLC
AirTran Holdings Inc.
Alion Science and Technology Corp. Allbritton Communications Company
Allison Transmission Inc
Alon USA Energy Inc
American Achievement Group Holding Corp.
American Axle & Manufacturing Holdings Inc.
American Media Operations Inc.
Ames True Temper Inc.
AMH Holdings Inc.
AMR Corporation
Arby's Restaurant Group Inc.
Arinc Incorporated
Atlantic Express Transportation Corp.
Autocam Corporation
Aventine Renewable Energy Holdings Inc.
Baker & Tayler Acquisitions Corp.
Barneys New York Inc
Barrington Broadcast Group LLC
BCBG Max Azria Group Inc.
Beverages & More Inc
Blockbuster Inc.
Bluegreen Corporation
Bonten Media Group Inc.
Bon-Ton Stores Inc.
Bowater Incorporated
Brigham Exploration Company
Broder Bros. Co.
Brookstone Company Inc.
Buffalo Thunder Development Authority
Builders FirstSource Inc.
Building Materials Corporation of America
Building Materials Holding Corporation
Burlington Coat Factor Warehouse Corp.
Cambium Learning Inc.
Canon Communications LLC
Caraustar Industries Inc.
Carmike Cinemas Inc.
CavTel Holdings LLC
CCM Merger Inc.
CCS Medical Inc.
Centaur LLC
Center Cut Hospitality Inc
Champion Enterprises Inc.
Chaparral Energy Inc.
Charter Communications Inc.
Chem Rx Corporation
Chemtura Corporation
Chiquita Brands International Inc.
Chrysler LLC
Circus and Eldorado Join Venture
Citadel Broadcasting Corporation
Claire's Stores Inc.
Clearwire Communications LLC
Cleveland Unlimited Inc.
CMP Susquehanna Corp.
Coach America Holdings Inc.
Coinmach Service Corp.
Commercial Vehicle Group inc.
Conexant Systems Inc.
Continental Alloys & Services Inc.
Cooper Standard Automotive Inc.
Culligan International Company
Cumulus Media Inc.
DAE Aviation Holdings Inc.
Dana Holding Corporation
Dayton Superior Corporation
DeCrane Aerospace inc.
DEI Holdings Inc.
Delta Petroleum Corporation
Destination Maternity Corporation
Diagnostic Imaging Group LLC
Dole Food Company Inc.
Dollar Thrifty Automotive Group Inc.
Downstream Development Authority
Duane Reade Inc.
Dune Energy Inc.
Eastman Kodak Company
Easton-Bell Sports Inc.
Eddie Bauer Inc.
El Pollo Loco Inc.
Electrical Components International Inc.
Emmis Communications Corporation
Endurance Business Media Inc.
Energy Partners Ltd.
Energy XXI Gulf Coast Inc.
EnviroSolutions Holdings Inc.
Euramax International Inc.
Eurofresh Inc.
Evergreen International Aviation Inc.
Evergreen Tank Solutions Inc.
Finlay Fine Jewelry Corporation
Fleetwood Enterprises Inc.
Fontainebleau Las Vegas Holdings LLC
Ford Motor Company
FoxCO Acquisition Sub LLC
Freedom Communications Inc.
Freescame Semiconductor Inc.
French Lick Resorts & Casino LLC
Frontier Drilling
Gastar Exploration USA Inc.
GateHouse Media Operating Inc.
GenCorp Inc.
General Motors Corporation
Georgia Gulf Corporation
Global Crossing Ltd.
Gold Toe Moretz Holdings Corp.
Golden Nugget Inc.
Grande Communications Holdings Inc.
Gray Television Inc.
Green Valley Ranch Gaming LLC
Guitar Center Holdings Inc.
Haights Cross Communications Inc.
Hanely Wood LLC
Harrah's Entertainment Inc.
Harry & David
Hawker Beechcraft Acquisition Company LLC
Hilite International Inc.
HLI Operating Company Inc.
Hollywood Theaters inc.
Hovnanian Enterprises Inc.
Human Touch LLC
Idearc Inc.
Indalex Holding Corp.
Indianapolis Downs LLC
Inn of the Mountain Gods Resort and Casino
Instant Web Inc.
Intcomex Inc.
Integra Telecom Inc.
Intelsat Ltd.
InterDent Service Corporation
International Coal Group Inc.
IPS Corporation
Jacuzzi Brands Corp.
James River Coal Company
JetBlue Airways Corp.
JHCI Acquisitions Inc.
Jobson Medical Information LLC
Keystone Automotive Operations Inc.
Krispy Kreme Doughnut Corporation
Landmark FBO LLC
Lazy Days' RV Center Inc.
Lear Corporation
Level 3 Communications Inc.
Libbey Glass inc.
LifeCare Holdings inc.
Little Traverse Bay Bands of Odawa Indians
Local TV Finance LLC
Lodgenet Interactive Corporation
MACTEC Inc.
MAPCO Express Inc.
Mark IV Industries Inc.
Mattress Holdings Corp.
MediaNews Group inc.
Metaldyne Corporation
MetoKote Corporation
MGM MIRAGE
Michaels Stores Inc.
Milacron Inc.
Millenium New Jersey Holdco LLC
Morris Publishing Group LLC
Motorsport Aftermarket Group Inc.
MSX International Inc.
MXenergy Holdings Inc.
NBC Acquisition Corp.
Neenah Foundry Company
Neff Corp.
NES Rentals Holdings Inc.
Newark Group Inc.
Newport Television Holdings Inc.
Nexstar Finance Holdings Inc.
NextMedia Operating Inc.
Novamerican Steel Finco Inc.
November 2005 Land Investors LLC
NTK Holdings Inc.
Open Solutions Inc.
Orbitz Worldwide Inc.
Oriental Trading Company Inc.
OSI Restaurant Partners Inc.
Palm Inc.
Panavision Inc.
Panolam Industries International Inc.
Parallel Petroleum Corp.
Pegasus Solutions Inc.
Penhall Holding Company
Penton Business Media Holdings Inc.
Perkins & Marie Callender's Inc.
Ply-Gem Industries Inc.
Primus Telecommunications Group Incorporated
Quality Distribution LLC
Quality Home Brands Holdings LLC
Quantum Corporation
Questex Media Group Inc.
Quiksilver Inc.
R.H. Donnelly Corporation
Radio One Inc.
Rafaella Apparel Group Inc.
Rare Restaurant Group LLC
RathGibson Inc.
Reader's Digest Association Inc.
Real Mex Restaurants inc.
Realogy Corporation
Regent Broadcasting LLC
Renfro Corporation
Revere Industries LLC
Rhodes Companies LLC
Rite Aid Corporation
Riviera Holdings Corporation
Rotech Healthcare Inc.
Roundy's Supermarkets Inc.
Sagittarius Restaurants LLC
Salem Communications Holding Corporation
Sbarro Inc.
Securus Technologies inc.
Sirius XM Radio Inc.
Sitel LLC
Six Flags Inc.
Shoqualmie Entertainment Authority
Source Interlink Companies Inc.
Spanish Broadcashing System Inc.
St. John Knits International Incorporated
Standard Motor Products Inc.
Standard Steel LLC
Stanley-Martin Communities LLC
Station Casinos Inc.
Sterigenics International Inc.
Stillwater Mining Company
Sunstate Equipment Co. LLC
Swift Transportation Co. Inc.
Synagro Technologies Inc.
Synchronous Aerospace Group
Targus Group International Inc.
TCO Funding Corporation
Telgrant Corporation
Telcordia Technologies Inc.
Tenneco Inc.
Thermadyne Holdings Corporation
Trailer Bridge Inc.
True Temper Sprots Inc.
Truvo Subsidiary Group
TSA Stores Inc.
UAL Corporation
United Site Services Inc.
United Subcontractors Inc.
Univision Communications nic.
US Airways Group Inc.
US Xpress Enterprises Inc.
USEC Inc.
Value Creation Partners - Best Brands
Veyance Technologies Inc.
Viskase Companies Inc.
Visteon Corporation
WasteQuip Inc.
Waterford Gaming LLC
Western Refining Inc.
White Birch Paper Company
WII Components Inc.
William Lyon Homes
Wilton Products Inc.
Wise Metals Group LLC
Wm. Bolthouse Farms Inc.
Wolverine Tube inc.
Workflow Management Inc.
WP Evenflo Holdings Inc.
Xerium Technologies Inc.
X-Rite Incorproated
YRC Worldwide Inc.

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Comments

NICE! Been waiting forever to see the complete demise of the evil Guitar Center. YES!!! :) Hopefully very soon indeed.

I guess Guitar Centers demise was similar to what happened to me when I ran E. U. Wurlitzer into the
ground. Employees and vender reps. always
commented that I could never pass up
generating a P. O. .

Yamaha jumped ship onto the Best Buy Boat.
The only problem is that Best Buy didn't
become the best by building the Titanic.
Best Buy Built themselves "The Enterprise"

Good Luck Yamaha as you are directed
to take orders from your dealer, Best Buy.

I guess Yamaha should have stayed loyal
to its smaller dealer network. More control
and more profit!!!

I guess Mike hasn't realized that it's all about
the profit!!!!!

As Fred Dirst sings, "Yamaha" They did it
for the cookie, the cookie, now shove it up
your @'!#, shove it up your @'!#.

I was long gone before the final demise of E.U. Wurlitzer, and there was no shortage of culpability. But the Gene Joly I knew only had one "L' in his name. Is someone being a ventriloquist?

Nothing but a bunch of retards could run a 100+ year successful company into the $hit pile. This includes the last 10 years of manglement. Wow check 'em out now, they have a "market facing structure." "Market facing" includes the ben dover ankle embrace. Fappers.

spelled with two lls