Faculty News

New, joint research from Professor Viral Acharya addressing the risk of being a fallen angel and the corporate dash for cash in the midst of COVID-19 is mentioned

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Excerpt from Financial Times -- "Besides drawing down credit lines Acharya and Steffen (2020) show that firms also raised cash by accessing bond markets, but this started later. New bond issuance was muted until mid-March but accelerated after the Fed announced its corporate bond purchase programs through which it can purchase investment-grade rated corporate bonds (including ‘fallen angels’) and ETFs."

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