# In an in-depth feature, Professor Edward Altman predicts a surge of “mega” bankruptcies in 2020

1 Faculty News August 4, 2020 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](https://www.bloomberg.com/professional/blog/father-of-the-z-score-predicts-surge-in-mega-bankruptcies/) -- "More than 30 American companies with liabilities exceeding $1 billion have already filed for Chapter 11 since the start of January, and that number is likely to top 60 by year-end after businesses piled on debt during the pandemic, according to [Edward Altman](https://www.stern.nyu.edu/faculty/bio/edward-altman), creator of the Z-score and professor emeritus at NYU’s Stern School of Business. Companies globally have sold a record $2.1 trillion of bonds this year, with nearly half coming from U.S. issuers, data compiled by Bloomberg show."

[Read More](https://www.bloomberg.com/professional/blog/father-of-the-z-score-predicts-surge-in-mega-bankruptcies/)