Europe Lockdowns Put $50 Billion of Bonds on Cusp of Junk Grade

europe lockdowns put 50 billion of bonds on cusp of junk grade

Sumary of Europe Lockdowns Put $50 Billion of Bonds on Cusp of Junk Grade:

  • Breadcrumb Trail Links PMN Business Author of the article: Bloomberg News Lyubov Pronina Publishing date: Nov 25, 2021 • 13 minutes ago • 2 minute read • Join the conversation Article content (Bloomberg) — A new wave of junk downgrades looms over Europe as the region shudders under one of the worst outbreaks of the pandemic.
  • Some 84 bonds worth 46 billion euros ($52 billion) are on the cusp of losing their investment-grade ratings — marking a reappearance for fallen angels that had all but vanished this year, according to Bloomberg Intelligence analysts.
  • “With European lockdowns back on, fallen angels are a worry,” Mahesh Bhimalingam and Bhumika Gupta wrote in research published Thursday.
  • There was just one fallen-angel downgrade in Europe in the past six months, they wrote.
  • The risk premium in euro-denominated corporate bonds, as measured by Bloomberg indexes, just rose above 1% for the first time in more than a year.
  • Spreads Turn Into Important Factor Again for European Credit “The fourth Corona wave is not leaving the credit markets unscathed,” Erste Group analyst Elena Statelov wrote in a note Thursday.

Want to know more click here go to source.

From -

Generic selectors
Exact matches only
Search in title
Search in content

Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.