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Thursday, 28th May 2020 By Scorable
Beware of (future) fallen angels

Should I sell or should I hold? A question many investors are asking themselves these days. Covid-19 has wreaked havoc on the world economy, and some industries are more affected than others. The auto & auto parts sector has been hit by a severe supply and demand shock. Currently, 70% of BBB or BBB- rated issuers in this industry are at risk of becoming fallen angels, which equates to nearly a third of the total auto & auto parts investment grade universe.