Ciao i98mark.... mi permetto di ricollegarmi a questo interessante articolo da te postato per una richiesta..
Esiste che tu sappia uno specifico report di S&P, o un'altra fonte, con uno spaccato del debito corporate in scadenza nei prossimi anni? Avevo visto qualcosa di simile su zerohedge per il CRE... non so se sui corporate hai trovato info a proposito...
sarebbe interessante sapere da qui al 2014, quanti bn di debito sono da rifinanziare ogni anno...
Forse questi dati, più aggiornati, di Moody's possono ispirare alcune considerazioni, sebbene si fermino al 2012... il report integrale, a pagamento, resta non disponibile
Moody's: U.S. Non-Financial Issuers' Debt Maturities to Soar in 2012
New York, September 29, 2009 -- Despite a surge of debt issuance this year as credit markets have thawed, close to $500 billion of rated bonds of U.S. non-financial corporates are still set to mature through 2012, Moody's Investors Service said in a new report on refunding risk.
U.S. non-financial companies have chipped away at bond maturities this year, but most of the money they've raised in the capital markets has been used to build liquidity reserves and fund mergers and acquisitions, rather than repay debt due over the next three years.
The biggest chunk of bond maturities comes in 2012, when $184 billion will be due. This represents 59% of the maturities between now and the start of 2012, according to the report, an interim study of refunding risk that updates the findings of annual refunding studies Moody's published earlier this year.
"Total bond maturities will increase significantly each year," said Moody's Vice President and Senior Credit Officer Kevin Cassidy, author of the interim report. "
From $92 billion in 2010, they will rise to $165 billion in 2011 before hitting $184 billion in 2012."
Overall, the debt burden falls more heavily on investment-grade companies. They have bond maturities of $380 billion between now and the end of 2012, compared with $115 billion of speculative-grade bonds coming due over that period.
"Investment-grade companies also bear the larger burden in 2012, with $130 billion due compared with $54 billion for spec-grade companies," Cassidy said.
Companies have reduced some maturities. Amid the credit-market turmoil earlier this year, Moody's annual Refunding Risk and Needs studies identified $390 billion of investment-grade and speculative-grade corporate bonds maturing through 2011. About $312 billion, or 80%, of that amount is still outstanding.
Investment-grade companies have reduced the amount of debt coming due through 2011 by about $50 billion this year. But they have issued about $275 billion of new debt, suggesting they're using proceeds to fund mergers & acquisitions and to build up cash rather than pay debt, the report says.
opinioni contrastanti sulla durata del regno, con qualcuno che ipotizza due anni di denaro a costo prossimo allo zero, e fra questi la Barclays.
