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Credit Conditions North America: Unprecedented Uncertainty Slams Credit

Credit Conditions in North America look set to remain extraordinarily difficult for borrowers at least into the second half of the year, with the economic stop associated with coronavirus containment and mitigation measures continuing with no clear end in sight. Intense pressure on the credit quality of borrowers won't soon subside, as cash flows slump and financing conditions materially diverge between investment- and speculative-grade borrowers.

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