Verra’s Bond at Lowest Since 2022 as Week’s Selloff Builds

Verra Mobility’s lone outstanding bond fell further Thursday morning, extending the day earlier’s record percentage decline, after the company cut guidance and announced that Avis terminated a contract.

• The firm’s 5.5% note due 2029 fell 4.25 cents on the dollar to 85 cents as of 10:15am ET, according to Trace data, following Wednesday’s 8.9-cent plunge
  • The bond hit its lowest since July 2022 on Thursday
• READ: Verra Mobility Sinks as Avis Loss Spurs Downgrades: Street Wrap

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