European companies are facing a downhill slide from the best credit quality conditions in a decade, rating agency S&P predicts. Lending conditions remain exceptionally generous but fears of a downturn and uncertainty over new monetary stimulus have kept many new issuers at bay.
The credit quality of EU companies reached a 10-year peak this summer and has since been steadily declining, said the ratings agency. The number of negative rating outlooks the agency has assigned to companies has have been outweighed the positive ones for the past 12 months,
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