\nPericolul ca o \u00eenmul\u0163ire a de\u00adfaulturilor corporate s\u0103 exacerbeze o \u00eencetinire a economiei mondiale este de luni \u00eentregi \u00een mare m\u0103sur\u0103 dat deoparte de pie\u0163ele de credit rezili\u00adente, \u00eens\u0103 acum problemele legate de datoriile companiilor \u00eencep s\u0103 urce la suprafa\u0163\u0103, scrie Reuters.<\/p>\n
\nUn num\u0103r \u00een cre\u015ftere de compa\u00adnii sunt retrogradate la categoria junk, av\u00e2nd prin urmare \u00een fa\u0163\u0103 costuri de finan\u0163are \u00een cre\u015ftere.<\/p>\n
\nRetailerul Casino, cu datorii de 6,4 miliarde de euro, poart\u0103 negocieri cu creditorii, Thames Water din UK se scufund\u0103 sub povara unor datorii de 14 miliarde de lire sterline, iar compania imobiliar\u0103 suedez\u0103 SBB, retrogradat\u0103 la junk \u00een mai, se afl\u0103 \u00een epicentrul unui crah imobiliar care amenin\u0163\u0103 s\u0103 prind\u0103 \u00een v\u00e2ltoarea sa \u00eentreaga economie suedez\u0103.<\/p>\n
\n\u015ei totu\u015fi, costul asigur\u0103rii expu\u00adne\u00adrii la un co\u015f de companii europene cu rating junk a atins recent cel mai sc\u0103zut nivel din peste un an, suger\u00e2nd c\u0103 investitorii r\u0103m\u00e2n calmi \u00een fa\u0163a amplific\u0103rii riscurilor de default. S&P Global se a\u015fteapt\u0103 ca ratele de de\u00adfault pentru companiile ameri\u00adcane \u015fi europene cu rating sub-in\u00advest\u00adment s\u0103 creasc\u0103 la 4,25% \u015fi respectiv 3,6% p\u00e2n\u0103 \u00een martie 2024, de la 2,5% \u015fi 2,8% \u00een martie acest an.<\/p>\n
\nSperan\u0163ele c\u0103 economia mondia\u00adl\u0103 va evita un declin pronun\u0163at \u015fi c\u0103 major\u0103rile de dob\u00e2nzi agresive vor lua sf\u00e2r\u015fit \u00een scurt timp explic\u0103 op\u00adtimismul investitorilor, \u00eens\u0103 anali\u015ftii atrag aten\u0163ia c\u0103 impactul scumpirii creditului de-abia de-acum va \u00eencepe s\u0103 fie resim\u0163it pe deplin.<\/p>\n
\nNu toate firmele vor putea su\u00adpra\u00advie\u0163ui provoc\u0103rilor datoriilor uria\u015fe, cre\u015fterii dob\u00e2nzilor \u015fi costurilor \u015fi sc\u0103derii profiturilor.<\/p>\n
\n\u201eSuntem \u00eenc\u0103 la aproximativ 12 luni de resim\u0163irea pe deplin a impac\u00adtu\u00adlui, \u00een special \u00een Europa, unde de\u00adclinul ar putea fi mai pu\u0163in sever, dar redre\u00adsarea va fi de asemenea mai len\u00adt\u0103\u201c, arat\u0103 Enela Lieskovska, par\u00adte\u00adner la Bain Capital Special Situations.<\/p>\n
\nRichard Cooper, partener la Cleary Gottlieb, o firm\u0103 de avoca\u00adtur\u0103 de top pentru falimente corpo\u00adrate, avertizeaz\u0103 c\u0103 situa\u0163ia pare dife\u00adrit\u0103 de ciclurile anterioare. \u201eVor fi o mul\u0163ime de defaulturi\u201c.<\/p>\n
\nO furtun\u0103 legat\u0103 de datorii corporate de 500 miliarde de dolari se formeaz\u0103 asupra economiei mondiale, potrivit Bloomberg.<\/p>\n
\n\u00cen profunzime, exist\u0103 un factor comun al problemelor companiilor: datoriile acumulate \u00een timpul erei banilor neobi\u015fnuit de ieftini. Acestea devin o povar\u0103 mai ap\u0103s\u0103toare \u00een contextul scumpirii creditului de c\u0103tre b\u0103ncile centrale.<\/p>\n
\n\u00cen SUA, volumul obliga\u0163iunilor cu randamente ridicate \u015fi \u00eemprumuturilor riscante a consemnat mai mult de o dublare fa\u0163\u0103 de 2008 la 3.000 miliarde de dolari \u00een 2021. \u00cen aceea\u015fi perioad\u0103, datoriile companiilor chineze non-financiare au crescut raportat la dimensiunea economiei \u0163\u0103rii, iar \u00een Europa, v\u00e2nz\u0103rile de obliga\u0163iuni junk au urcat cu peste 40% doar \u00een 2021.<\/p>\n
\nO mul\u0163ime din titlurile respective va trebui rambursate \u00een urm\u0103torii ani, ad\u0103ug\u00e2ndu-se unui volum al datoriilor ce ajung la maturitate de 785 miliarde de dolari.<\/p>\n
\nCu cre\u015fterea \u00eencetinind \u00een China \u015fi Europa \u015fi Fed-ul a\u015fteptat s\u0103 majoreze \u00een continuare dob\u00e2nzile, pl\u0103\u0163ile respective s-ar putea dovedi a fi prea mult pentru multe companii.<\/p>\n
\n <\/p>\n","protected":false},"excerpt":{"rendered":"
Pericolul ca o \u00eenmul\u0163ire a de\u00adfaulturilor corporate s\u0103 exacerbeze o \u00eencetinire a economiei mondiale este de luni \u00eentregi \u00een mare m\u0103sur\u0103 dat deoparte de pie\u0163ele de credit rezili\u00adente, \u00eens\u0103 acum problemele legate de datoriile companiilor \u00eencep s\u0103 urce la suprafa\u0163\u0103, scrie Reuters.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[7734,201,7736,187,11940,23525,369,23881,8413],"class_list":["post-218008","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-analisti","tag-companii","tag-credit","tag-dobanzi","tag-economia-mondiala","tag-junk","tag-obligatiuni","tag-retrogradare","tag-scumpire"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/218008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=218008"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/218008\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=218008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=218008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=218008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}