New Fortress (NFE) Falls 5% on Credit Concerns

We precocious published 10 Big Names Crumbling Before 2026. New Fortress Energy Inc. (NASDAQ:NFE) is 1 of the worst performers connected Tuesday.

New Fortress dropped for a 2nd time connected Tuesday, shedding 5.17 percent to adjacent astatine $1.10 apiece amid lingering concerns implicit its fiscal standing, further dampened by a recognition standing downgrade from S&P Global Ratings.

Earlier this month, New Fortress Energy Inc. (NASDAQ:NFE) announced that it has extended its forbearance statement with holders of its caller elder secured notes owed 2029 from December 15, 2025 to January 9, 2026 up of the completion of its restructuring with its stakeholders.

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Following the news, S&P Global Ratings lowered its recognition standing for New Fortress Energy Inc. (NASDAQ:NFE) to ‘SD,’ arsenic good arsenic its elder secured word indebtedness B owed 2028 to ‘D’ from some CCC-.

An SD (Selective Default) standing means that New Fortress Energy Inc. (NASDAQ:NFE) has failed to conscionable its circumstantial fiscal obligations but is expected to proceed gathering its commitments, portion a CCC means that a institution is presently highly susceptible to nonpayment.

“We judge the institution volition instrumentality the adjacent respective weeks during the forbearance play to negociate with its different lenders connected an amenable solution to restructure each indebtedness crossed its superior structure. In our view, it’s highly apt that the result of these negotiations volition either represent a accepted default oregon a selective default nether our criteria,” S&P Global Ratings said.

“We volition reevaluate our ratings connected NFE arsenic important developments related to the superior operation originate oregon upon the announcement of a much broad debt-restructuring plan,” it added.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.