DISTRESSED DAILY: Labor Recovery Not Enough for CareerBuilder

The labor market has roared back from the pandemic, but employment website CareerBuilder LLCis still struggling.

The Apollo Global Management Inc.-backed company has a term loan maturing next year that it may struggle to refinance, S&P Global Ratings wrote in a note earlier this month. CareerBuilder has been recovering from the pandemic slower than expected and is burning cash on marketing as it seeks to grow, analysts Dan Daley and Samantha Stone wrote.

CareerBuilder’s $50 million undrawn revolving credit line matures in July, and S&P expects the company to turn to its roughly $63 million in balance sheet ...