Moody's: Downgrade of Asian investment grade companies into high yield would likely raise refinancing risk for corporates rated B2 or lower
Singapore, December 16, 2016-- Moody's Investors Service says that 12 companies in Asia are now rated Baa3 with a negative outlook. If these companies were to be downgraded, the maturity wall for rated high-yield bonds will increase by $2.7 billion between 2017 and 2019.. "We believe the refinancing needs of these 12 companies, following a downgrade into high-yield, could have the effect of crowding out or increasing the cost of refinancing for companies with bonds rated B2 or lower,...
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