The Wall Street Journal: Coronavirus Fallout Exposes Vulnerability of Junk Debt


Debt investors are grappling with the worst selloff in the riskiest corner of the corporate debt market in over a decade, writes Lorena Ruibal for The Wall Street Journal, citing Credit Benchmark data.

An economic downturn caused by the impact of the coronavirus epidemic could wipe out returns and risk tilting debt-bloated high-yield companies into default.

“Default risk has climbed 6% for large U.S. oil and gas firms in the past year, according to Credit Benchmark.

The Wall Street Journal, March 9, 2020.

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Credit Benchmark brings together internal credit risk views from over 40 leading global financial institutions. The contributions are anonymized, aggregated, and published in the form of consensus ratings and aggregate analytics to provide an independent, real-world perspective of credit risk. Risk and investment professionals at banks, insurance companies, asset managers and other financial firms use the data for insights into the unrated, monitoring and alerting within their portfolios, benchmarking, assessing and analyzing trends, and fulfilling regulatory requirements and capital.