Report published August 28, 2026
BofA Global Research: High Yield Toolkit – Industrials & Services Weekly
Source and citation context
- Issuer
- Bank of America
- Report date
- August 28, 2026
- Analysis as of
- August 26, 2026
Authors / editors: Abe Landa, CFA, Shaun Maher
Finvaulta summarizes Bank of America's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
This weekly high-yield report reviews credit market performance and 62 corporate earnings releases across North American industrials and services. Key developments include Verra Mobility's materially repriced contracts with Avis and Hertz, Vista Global's potential European IPO, and Kone's DOJ second request for TK Elevator.
Key Takeaways
- 1.Verra Mobility signed new 7-year and 5-year contract extensions with Avis Budget and Hertz on materially less favorable terms, driving a guidance cut with an estimated 5-month impact of $70mn in revenue and $45mn in EBITDA.
- 2.High-yield index weekly returns were mixed-to-flat: US Cap Goods HY and US Services HY returned (0.0)% and (0.0)% with spreads at 200 bps and 301 bps, while US Environmental Services HY returned +0.2% at 177 bps.
- 3.Vista Global is reportedly considering a European IPO to raise over $1bn at a valuation exceeding $10bn, while Kone faces a second request DOJ antitrust review for its €29.4bn acquisition of TK Elevator.
Table of Contents
- Industry Overview
- Company-Specific News (Alphabetical)
- Top News Stories
- Best/Worst Performing Bonds/Equities
- Exhibit 16: High Yield OEM Comp
- Exhibit 17: High Yield OEM Comp
- Exhibit 18: High Yield Supplier Components Comp
- Exhibit 19: High Yield Supplier Components Comp
- Exhibit 20: High Yield Waste and Environmental Services Comp
- Exhibit 21: High Yield Engineering & Construction Comp
- Exhibit 22: High Yield General Rentals Comp
- Exhibit 23: High Yield Specialty Rentals Comp
- Exhibit 24: High Yield Security Comp
- Exhibit 25: High Yield Travel Related Services
- Exhibit 26: High Yield Payments Comp
- Exhibit 27: High Yield Commercial & Business Services Comp
- Exhibit 28: High Yield Commercial & Business Services Comp
- Exhibit 29: High Yield Government Services Comp
- Exhibit 30: High Yield H&R and Staffing Comp
- Exhibit 31: High Yield Information Services Comp
- Glossary
- Special Disclosures
Report data
Exhibit 1: Trading Levels and Returns of High Industrials and General Indices — as of August 26, 2026.
| Metric | Estimate | Context |
|---|---|---|
| US High Yield Spread to Worst | 284 bps | Spread to worst for the broad US High Yield index as of August 26, 2026. |
| US Cap Goods HY Spread to Worst | 200 bps | Spread to worst for the US Capital Goods High Yield sector index. |
| US Services HY Spread to Worst | 301 bps | Spread to worst for the US Services High Yield sector index. |
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Authors / Editors
Reported Data Context
- US High Yield Spread to Worst: 284 bps (2026-08-26) · Source: ICE Data Indices, LLC
- US Cap Goods HY Spread to Worst: 200 bps (2026-08-26) · Source: ICE Data Indices, LLC
- US Services HY Spread to Worst: 301 bps (2026-08-26) · Source: ICE Data Indices, LLC
Securities
Themes
Regions
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