Leveraged debt market has grown by $99bn, Moody’s says
Total debt outstanding in the European speculative grade market has grown by 16% since last year, said Moody’s in a special comment yesterday. The total amount of bonds and loans outstanding, rated by Moody’s, is $601bn, borrowed by 262 European companies.
The increase from Moodys report last year is mainly due to many first time issuers accessing the high yield market, which has seen record levels of bond issuance to refinance bank debt earlier this year, said Douglas Crawford, senior analyst in Moodys corporate finance group, in the statement.
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