COVID-19’s Impact on Credit Ratings Viewed Through the Prism of DBRS Morningstar’s ESG Risk Factors
Almost all businesses, institutions, and individuals are being financially affected by the current Coronavirus Disease (COVID-19) pandemic. Large-scale shutdowns of companies have been highly disruptive to the economy; demand destruction of energy sources, such as oil, has affected resource-based economies; surging unemployment is depleting personal savings and will cut deeply into consumer demand for the foreseeable future; asset values will deflate if they have not already; and healthcare institutions are overwhelmed with coronavirus patients. There are very few companies—aside from retailers of consumer staples, digital streaming and content companies, and suppliers of medical equipment used to fight the pandemic—that are financially benefitting.
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