Ratingbureau S&P heeft een nieuw rapport uit met de klinkende titel “Is A $46 Trillion Perfect Storm Brewing?”. De titel laat al weinig aan de verbeelding over, maar de cijfers in het rapport zijn werkelijk hallucinant.
Standard & Poor’s Ratings Services estimates the funding needs of nonfinancial corporations in the eurozone, U.K., U.S., China, and Japan at $43 trillion to $46 trillion over the next five years. This includes $30 trillion of debt that will require refinancing and $13 trillion to $16 trillion of new money needed to spur growth, according to a report that the credit rating agency published earlier today. “This global wall of nonfinancial corporate debt will potentially compound the credit rationing that may occur as banks seek to restructure their balance sheets, and bond and equity investors reassess their risk-return thresholds,” noted Jayan Dhru, senior managing director of Global Corporate Ratings at Standard & Poor’s. “Combined with the eurozone crisis, the slow U.S. economic recovery, and the prospect of a slowing economy in China, this raises the downside risk of a perfect storm in global corporate credit markets.”
h/t Arend Jan