Ford to Repurchase $5B in High-Yield Bonds
“We think it’s the time to aggressively restructure the balance sheet, lower our interest costs, and really clear the decks for 2022 and beyond."
Fed Offers More Support for Loans, Corporate Debt
The Fed's latest moves in response to the coronavirus crisis take it "well beyond the lender-of-last-resort functions it played" during the Great Recession.
Tesla Offers $1.5B in Junk Bonds to Raise Cash
The company's first junk issue is a bet that "bond investors will be as hungry as stock investors to back" Tesla as it ramps up production of the Model 3.
Junk Bond Defaults to Rise 5.6% in Next Year
S&P says continued stress on the energy sector from the oil price slump will drive defaults, offset somewhat by a likely delay in any interest rate hikes.
Junk Defaults to Rise to 4.6% in Next Year
Moody's cites "deteriorating credit conditions especially in commodity sectors such as oil & gas and metals & mining."
Junk Bond Defaults Seen Rising Again in 2016
The credit ratings agency forecast that the junk default rate will be 4% this year, up from 3.5% in 2015.
Liquidity Woes Hit Non-Energy Junk Bond Issuers
Moody's Investors Service said its Liquidity Stress Index (LSI) jumped to 7.9% in January from 6.8% in December 2015.
Is the Winning Streak for High-Yield Bonds Over?
More than 200 speculative-grade issuers have been downgraded by S&P this year.