Kevin Cassidy, senior credit officer at Moody’s Corp. (MCO), talks in this Bloomberg interview about the high-yield debt market. According to Cassidy, “an avalanche is brewing in 2012 (which marks the beginning of a 3-year period in which more than $700 bln in high-yield corporate debt begins to come due) and beyond if companies don’t get out in front of this”.
According to the NYT, from $21 billion due this year, junk bonds are set to mature at a rate of $155 billion in 2012, $212 billion in 2013 and $338 billion in 2014.
Cassidy also discusses the outlook for the interest rates and the U.S. economy.
