Corporate America's Epic Debt Binge Leaves $119 Billion Hangover

The Federal Reserve’s historically low borrowing rate isn’t benefiting corporate America like it used to.

It’s more expensive for even the most creditworthy companies to borrow or refinance even as the Fed has kept its benchmark at near-zero the last seven years. Companies have loaded up on debt. They owe more in interest than they ever have, while their ability to service what they owe, a metric called interest coverage, is at its lowest since 2009, according to data compiled by Bloomberg.