Europe’s falling angels pin hopes on $33 billion ECB redemption
Coronavirus lockdowns have put
corporate bonds totalling around 30 billion euros ($32.6
billion) at immediate risk of dropping into junk debt ratings
and losing ECB support, calculations by Reuters show, raising
expectations of policy support for them.
Strict social distancing measures implemented to curb the
spread of the coronavirus pandemic has put many euro zone
companies at risk of defaulting and becoming “fallen angels”,
when their
corporate bonds totalling around 30 billion euros ($32.6
billion) at immediate risk of dropping into junk debt ratings
and losing ECB support, calculations by Reuters show, raising
expectations of policy support for them.
Strict social distancing measures implemented to curb the
spread of the coronavirus pandemic has put many euro zone
companies at risk of defaulting and becoming “fallen angels”,
when their
Posted by Reuters
