Revenue and Issuance Analysis
North America and EMEA Non-Financial Corporates
Have Significant Refunding Needs1
Debt Maturities: North America Moody's-Rated Corporate Bonds and Loans
$ Billions
»
$700
$624
$600
$566
$500
$444
189
266
$400
$341
97
$300
47
93
146
153
68
>>>
$200
$100
226
205
$0
2020
254
2021
■Investment Grade
■Speculative Grade Bonds
Source: Moody's Investors Service, January 2019.
231
2023
2022
■Speculative Grade Bank Loans
Four-year debt maturities for
North America non-financial
investment-grade corporates
approaching $1 trillion
Four-year U.S. speculative
grade bank loans refinancing
needs up $44 billion, or 8%,
from a year ago
Note: Data represents U.S. & Canadian MIS rated corporate bonds & loans.
Debt Maturities: EMEA Moody's-Rated Corporate Bonds and Loans
$ Billions
$504
64
$490
$412
69
46
84
72
39
$600
$500
$405
$400
$300
$200
338
327
$100
$0
356
349
Four-year debt maturities for
EMEA non-financial
corporates exceed $1.8
trillion, up more than $370
billion, or 26%, from the
prior year
2020
2021
■Speculative Grade Bonds
2022
■Speculative Grade Bank Loans
2023
■Investment Grade
Source: Moody's Investors Service, July 2019.
1.
Amount reflects total maturities identified in the above sources.
MOODY'S
November 4, 2019 23View entire presentation