Finance
Moody’s Slashes Green Bond Sales Forecast After Poor Quarter
- Issuance of green debt plunged 49% in first quarter of 2020
- Sales to remain depressed in first half of year before rebound
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Moody’s Investors Service is cutting its outlook for green bond issuance in 2020 after sales plummeted in the first quarter as the pandemic rattled credit markets.
Issuance totaled $33.9 billion in the first three months of the year, a 49% decrease from the previous quarter, according to a Moody’s report. The credit grader now expects $175 billion to $225 billion of green bond volume in 2020, down from an original forecast of $300 billion.