Business
Barrons.com
The Coronavirus Crisis Could Wipe Out Entire Industries. These Are the Ones at Risk.
When the world emerges from the coronavirus pandemic—hopefully sooner rather than later—some businesses, and perhaps entire industries, will probably have vanished, absent a federal rescue. Corporate debt as a percentage of gross domestic product is now at “the highest peak we’ve ever had,” says Edward Altman, professor emeritus of finance at New York University Stern School of Business. The value of corporate debt hit 47% of gross domestic product this year, higher even than the 45% it hit in 2008 before the last recession.
