About: http://data.cimple.eu/news-article/c9e87cc8d9c9e1f8af2f158e4c379db4e3d4bc8c77bce659ff23b1e1

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About: http://data.cimple.eu/news-article/c9e87cc8d9c9e1f8af2f158e4c379db4e3d4bc8c77bce659ff23b1e1 Goto Sponge Distinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	A wave of company defaults is likely to sweep the United States and Europe as measures to contain the coronavirus spark a recession, S&P Global Ratings said Friday. The agency said it believes the global economy will go into reverse under the impact of the coronavirus crisis and that companies will see cash flow whither and financing conditions tighten. "These factors will likely result in a surge in defaults, with a default rate on nonfinancial corporates in the US that may rise above 10 percent and into the high single digits in Europe over the next 12 months," said S&P. Central banks in the US and Europe have flooded markets with liquidity and freed up banks to boost lending in an effort to help firms weather drops in demand and halts in operations due to confinement measures. S&P said companies rated B- and below will likely suffer most from financing needs and would face rapid downgrades. A B- credit rating is already several notches into speculative territory, and corporate bonds with these sort of rating are often called by traders "junk bonds". S&P noted that the number of companies rated B- and below had increased significantly in the US and Europe. "These low ratings indicate a higher vulnerability to adverse business, financial or economic conditions," said S&P. cda/rl/jh
schema:headline	S&P warns 1 in 10 US firms may default on debt
schema:mentions	Credit rating Recession Warini United States High-yield debt S&P Global Cash flow Market liquidity
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-20 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	83 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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