SPIB - U.S. BBB Corporate Risk: Flexibility In Focus
By David M. Brown, CFA, Co-Head of Global Investment Grade Fixed Income; Stephen J. Flaherty, CFA, Director of Research, Global Investment Grade Credit; Kristin C. Cejda, Senior Research Analyst, Global Investment Grade Credit; Christopher M. Oshewolo, CFA, Senior Research Analyst, Global Investment Grade Credit
In a varied landscape, accurately assessing vulnerability to downgrades will come down to specifics.
The BBB investment universe has expanded in recent years, prompting broad fears about mass downgrades and market dislocation as the economic cycle moves into late innings. As discussed in our 2018 white paper, BBBs: Beyond the Headlines