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The Straits Times
America s zombie companies rack up $2.6 trillion of debt
More than 200 corporations have joined the ranks of so-called zombie firms since the onset of the pandemic.PHOTO: AFP
PublishedDec 17, 2020, 7:26 am SGT
https://str.sg/JaaV
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America’s Zombie Companies Rack Up $2 Trillion of Debt
Bloomberg 12/16/2020
(Bloomberg) They were once America’s corporate titans. Beloved household names. Case studies in success.
But now, they’re increasingly looking like something else zombies. And their numbers are swelling.
From Boeing Co., Carnival Corp. and Delta Air Lines Inc. to Exxon Mobil Corp. and Macy’s Inc., many of the nation’s most iconic companies aren’t earning enough to cover their interest expenses (a key criterion, as most market experts define it, for zombie status).
More than 200 corporations have joined the ranks of so-called zombie firms since the onset of the pandemic, according to a Bloomberg analysis of financial data from 3,000 of the country’s largest publicly-traded companies. In fact, zombies now account for nearly a quarter of those firms. Even more stark, they’ve added almost $1 trillion of debt to their balance sheets in the span, bringing total obligations to $1.98 trill
China
Boston
Massachusetts
United-states
Japan
Americans
America
Aryan-banerjee
Boris-hofmann
Torsten-slok
Ken-monaghan
Matthew-mish