Signal Parent’s Credit Rating Downgraded to CCC+ by S&P Global

Signal Parent Inc.’s credit rating was lowered one notch to CCC+, pushing it further into junk, by S&P Global. The ratings company cited the high inventory of new unsold homes and cautioned around rising construction costs driving delays in housing starts in its downgrade of the interior design services firm.

• Leverage for Signal Parent that does business as Interior Logic Group was elevated above 10x as of its first quarter. This is expected to increase further throughout the year, according to a note from S&P
• S&P also lowered its rating on the company’s first-lien term loan to CCC+ ...