OECD warns of corp debt ‘fire sale’

By GlobalCapital
19 Sep 2019

Corporate debt investors face the danger of emergency fire sales if a sudden slump in growth led to a rash of downgrades, the Organisation for Economic Cooperation and Development (OECD) warned on Thursday.

It said the volume of all triple-B rated debt, the lowest level of investment grade bonds, issued in 2018 amounted to $499bn compared with $437bn of debt rated single-A or above.

“What worries us is not just the rising debt but the quality of that debt,” said OECD ...

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