EA Turns to Egan-Jones Rating as Angry Bondholders Claim Default

EA Turns to Egan-Jones Rating as Angry Bondholders Claim Default Electronic Arts has told a group of creditors that it secured an investment-grade rating from Egan-Jones Ratings Co. for a subset of bonds, using the designation to counter claims that it owes them a premium after the video-game maker was taken private. The creditors argue a default occurred because Electronic Arts failed to make a change-of-control payout within the specified period after its buyout, according to people familiar with the matter who asked not to be identified discussing private information.