Acrisure, the insurance and fintech hybrid valued at $32 billion, announced the elimination of approximately 2,250 positions, representing 11% of its global workforce, primarily in the US. S&P Global Ratings revised its credit outlook from Stable to Negative in April 2026, with adjusted leverage reaching 9.6x by end of 2025, forecasts suggesting a gradual improvement to the 8-9x range. The company issued $925 million in 8.25% senior notes due 2029, with prices declining since early 2026. A $1.18 billion loan tied to Guggenheim Partners dropped to approximately 72.5-73 cents on the dollar, hovering near distressed territory typically defined around 70 cents. The next few quarters will be critical to demonstrate whether restructuring can bend the leverage curve downward.
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