Distressed Debt In The US Doubles In 2 Weeks To $500BN As BofA Expects Surge In Defaults | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

Distressed Debt In The US Doubles In 2 Weeks To $500BN As BofA Expects Surge In Defaults

Last week, in the aftermath of the historic oil price collapse, we warned that the long-awaited "fallen angel" day has arrived, as $140 billion in oil producer (and up to $360 if one includes the mid-stream companies) investment grade debt was on the verge of being downgraded to junk and throwing the entire high yield market in turmoil.

Fast forward to today when Bloomberg calculates that since we published out article, the amount of distressed debt - a term that describes borrowings likely to default - in the U.S. alone has doubled to a half-trillion dollars as the collapse of oil prices and the fallout from the coronavirus shutters entire industries.

Tags:

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA