latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/consumer-drawdowns-fade-in-april-amid-broader-drop-in-pandemic-related-borrowing-58408836 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Consumer drawdowns fade in April amid broader drop in pandemic-related borrowing

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Consumer drawdowns fade in April amid broader drop in pandemic-related borrowing

Consumer companies slowed their coronavirus-related credit drawdowns in April but still accounted for more than a third of total borrowing during the month and more than half of the more than $252 billion drawn by businesses since March 5.

Companies across all sectors drew about $32.14 billion collectively in April, piling on the $219.87 billion borrowed in March and pushing total borrowing to $252.02 billion during the period, according to LCD, a division of S&P Global Market Intelligence. Fewer companies tapped their revolvers in April to preserve cash during the coronavirus pandemic, which has shuttered business operations around the globe.

The data represents a best-efforts analysis by LCD and is not comprehensive. LCD tracked more than 539 corporations that have drawn from their revolving lines of credit by looking at their public disclosures from March 5 through April 30.

Consumer companies account for the largest portion of the total borrowing, tapping $132.09 billion in March and $12.81 billion in April. Consumer discretionary companies accounted for 46.2% of the total recorded drawdowns across all sectors, while consumer staples accounted for 11.3%.

American Airlines Group Inc. drew the most during April, borrowing $2.73 billion from its credit line. Hotel operator Marriott International Inc., which drew about $2.5 billion in March, tapped another $2 billion in April.

SNL Image