Brian Chappatta, Columnist

$1 Trillion of Corporate Bonds Today, Downgrades Tomorrow

The fastest-ever borrowing binge was necessary but will inevitably weigh down credit ratings.

May 28, 2020 at 4:00 PM UTC

Brian Chappatta is managing editor of Bloomberg News' leveraged finance and distressed debt teams. He was previously managing editor and team leader of its wealth group. Before that he was a Bloomberg Opinion markets and finance columnist and a bonds reporter for Bloomberg News.

That’s a lot of weight on balance sheets.
Photographer: Ron Antonelli/Bloomberg

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The amount of new debt issued this year in the U.S. investment-grade corporate bond market will reach $1 trillion today, by far the fastest pace in history.

The implications of that milestone depend on how you look at it.