Faculty News

Professor Joseph Foudy is quoted in a story examining the probability of default jumps for automakers as the COVID-19 pandemic impacts production

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Excerpt from S&P Global -- "Part of the concern is that companies could be cut off from creditors, said Joseph Foudy, an economics professor at New York University. 'You get into a cycle where we downgrade them, which raises their borrowing costs, which leads to more fears of insolvency, which leads to downgrading, and you get into some kind of cycle where the downgrades themselves become the problem because they get cut off from banks,' he said."

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