Companies With High Debt Are Paying a Price [The New York Times]
Occidental Petroleum Corporation (OXY)
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Source: The New York Times
With enormous daily declines and rallies in the stock market alternating with dizzying frequency, reliable conclusions about the market’s prospects are hard to come by.But some fund managers and money managers think the coronavirus pandemic has exposed a long-ignored market vulnerability: high levels of corporate debt.Encouraged by the Federal Reserve’s promotion of ultralow interest rates since the financial crisis of 2007-8, corporations eagerly raced to borrow money for years, and those that are able are doing it againCorporate debt was rising sharplyBut until the last month or two, most investors showed little concern. In recent weeks, though, many heavily indebted companies have seen their long overlooked weaknesses exposed.Corporations that want to borrow must pay premiums above Treasury rates, and those premiums have risen at record clips. “People are more concerned about who they lend to,” said Charlie Dreifus, lead manager of theRoyceOther mutual funds that take a similar app
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OXY
Earnings
- 11/12/24 - Beat
OXY
Sec Filings
- 11/12/24 - Form 8-K
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- OXY's page on the SEC website