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.
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.
Within Consumer Discretionary, much of the volume is from Automobile Manufacturers.
Of the data so far, better-quality BBB issuers account for 43% of the overall volume by corporate credit rating.
The maturity wall for these revolving credit drawdowns for both the investment-grade and speculative-grade segments peaks in 2024.
This data is sourced from available SEC filings. It is not an exhaustive list of all RC drawdown activity.
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