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Debt investors seen bracing for “fallen angels”

Jaycee Man
Asian investment-grade bonds may be less at risk of downgrades to junk than those elsewhere, but asset owners – particularly insurers – are being advised to take precautions.
Debt investors seen bracing for “fallen angels”

A wave of “fallen angel” bonds – those issued by investment-grade companies that have since been downgraded to junk status – has started to break amid the coronavirus outbreak, and more are expected in the coming months.

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