As a result of the severe economic dislocation caused by the Covid-19 pandemic, the downgrade of 'fallen angels' to high yield status in 2020 is set to rocket past the previous yearly record.
As a result of the severe economic dislocation caused by the Covid-19 pandemic, the downgrade of 'fallen angels' to high yield status in 2020 is set to rocket past the previous yearly record. About $323bn of debt was downgraded over the first six months of the year, according to S&P Global Ratings, which is set to eclipse the previous record of almost $488bn in 2005. In the gallery above, four investors discuss fallen angels and highlight whether these challenged credits offer value in the continuing uncertain environment.
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes