REUTERS: U.S. corporations are sitting on record amounts of cash to reduce shock caused by the coronavirus pandemic, S&P Global Ratings said on Tuesday.
Cash and investments owned by non-financial and non-utilities corporate issuers jumped 30per cent to an all-time high of US$2.5 trillion in the first half of 2020, the ratings agency said a statement.Those companies have increased their debt levels by 9per cent to nearly US$8 trillion, S&P Global Ratings said, adding that the U.S.
"S&P Global Ratings believes near-term economic uncertainty likely will keep balance sheets relatively conservative," the ratings agency said."However, if the outlook brightens in 2021 as coronavirus vaccines become widely available, we believe some issuers will revert to more aggressive financial policies."
Optimism about the distribution of vaccines on Tuesday pushed the S&P 500 and Nasdaq to record highs. Despite the pandemic and its crippling effect on the global economy, the S&P 500 benchmark has climbed 15per cent in 2020 as investors bet on an eventual recovery and a surge in corporate profits.
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
출처: ChannelNewsAsia - 🏆 6. / 66 더 많은 것을 읽으십시오 »