DISTRESSED DAILY: American Seafoods Faces Choppy Refi Market

American Seafoods’ ASG Parent LLC faces heightened financial risks as its first-lien term loan is set to come due in August 2023 and its revolver matures in a matter of months.

The company, which harvests primarily Alaska pollock and Pacific hake, is likely to see stable operating performance but must contend with weak financial markets that may make refinancing at favorable terms a challenge, S&P analysts Brennan Clark and Chris Johnson wrote in a note Wednesday.

The credit grader said it may downgrade the B rated company, citing refinancing risks. The company’s $60 million senior secured revolver expires in August ...