LCD on May 1 added roughly $4.2 billion in revolving credit drawdowns, across 19 issuers, to its list of coronavirus-related liquidity actions by U.S. corporates.
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Roughly $252.2 billion of this activity via 542 borrowers has been captured since March 5.
Looking at broad industry sector, Consumer Discretionary accounts for nearly half of total RC drawdowns.
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Within Consumer Discretionary, much of the volume is from Automobile Manufacturers.
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Of the data so far, better-quality BBB issuers account for 43% of the overall volume by corporate credit rating.
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The maturity wall for these revolving credit drawdowns for both the investment-grade and speculative-grade segments peaks in 2024.
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This data is sourced from available SEC filings. It is not an exhaustive list of all RC drawdown activity.
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