Reuters/Marc Jones
“A total of 1,287 of S&P’s ratings are now on a downgrade warning – either with ‘negative outlooks’ where a move might take two years, or on ‘CreditWatch with negative implications’ where the risk is almost immediate.”
USAGOLD note: It is difficult to forecast the extent of financial damage that would be unleashed by a massive downgrade of credit-worthiness on the level this article suggests. Two-thirds of debt issuers – private and public – face downgrades the result of the COVID-19 pandemic with many suddenly risking “fallen angels” status – going from investment grade to junk.
Repost from 5-29-2020
