Fallen Angels

Fallen angels refer to bonds that have recently been downgraded into high yield or junk bond category. These bonds had an investment grade rating in the recent past but have fallen into the junk bond category after a credit rating downgrade - hence the name 'fallen angels'. Fallen angel bonds typically see a negative impact on their prices after being downgraded to junk because asset managers that are mandated to invest in investment grade bonds only are forced to sell their positions in the fallen angels. Fallen angels typically have the highest junk rating of BB+ / Ba1. Fallen angel bonds are keenly tracked by bond investors, especially during the pandemic of 2020, which is having a negative impact on several industries world over and leading to rapid credit rating downgrades.

Fallen Angels on BondEvalue platform

 
Eqt 6.125% 2025
Eqt 7.0% 2030
Western 3.1% 2025
Western 5.25% 2050
Ford Motor 4.271% 2027
Patterson-Uti 5.15% 2029
Kraft Heinz 4.625% 2039
Occidental 6.45% 2036
Methanex 5.25% 2029
Occidental 3.5% 2029
Ford Motor 5.113% 2029
Vodafone 7% 2079
UniCredit 7.296% 2034
Ford Motor 5.584% 2024
Eqm 4.75% 2023
Eqm 5.5% 2028
Eqm 6.5% 2048
Occidental 4.2% 2048
Cenovus 4.25% 2027
Eqt 3.9% 2027
Eqt 3.0% 2022
Pitney Bowes 5.7% 2023
Xerox 4.125% 2023
Washington 6.45% 2024
UniCredit 5.861% 2032
CBL 5.95% 2026
Ford 5.291% 2046
Ford 4.346% 2026
Buckeye 3.95% 2026
Kraft Heinz 3.5% 2022
Under Armour 3.25% 2026
Ford Motor 3.096% 2023
Newell 4.7% 2026
Newell 4.35% 2023
Ford Motor 4.389% 2026
Deutsche 4.5% 2025
Noble Holding 8.95% 2045
Noble Holding 7.95% 2025
Xerox 4.8% 2035
Southwestern Energy 6.2% 2025
Ingram Micro 5.45% 2024
Macy's 4.5% 2034
Methanex 5.65% 2044
Freeport Mcmoran 4.55% 2024
CBL 4.6% 2024
Continental 3.8% 2024
Bed Bath 5.165% 2044
Bed Bath 3.749% 2024
Bed Bath 4.915% 2034
Intesa 5.017% 2024
Nabors 5.1% 2023
Xerox 3.8% 2024
Pitney Bowes 4.625% 2024
CF Industries 5.15% 2034
CF Industries 5.375% 2044
Diamond Offshore 3.45% 2023
Freeport Mcmoran 3.875% 2023
Freeport Mcmoran 5.45% 2043
Macy's 4.375% 2023
Continental 4.5% 2023
EMC Corp 3.375% 2023
Deutsche 4.296% 2028
CF Industries 4.95% 2043
CF Industries 3.45% 2023
Adt 4.125% 2023
Adt 3.5% 2022
Avon 7.0% 2023
Wyndham 3.9% 2023
Navient 5.5% 2023
Kraft Heinz 5.0% 2042
Kraft Heinz 6.875% 2039
Kraft Heinz 6.5% 2040
Kraft Heinz 3.5% 2022
Ford 4.75% 2043
Murphy 5.875% 2042
Transocean 5.8% 2022
Continental 5.0% 2022
Western 4.0% 2022
Ericsson LM 4.125% 2022
Centurylink 5.8% 2022
Wyndham 4.25% 2022
Topaz 5.75% 2039
Edgewell 4.7% 2021
Nabors 4.625% 2021
Noble Holding 5.25% 2042
Navient 7.25% 2022
Macy's 5.125% 2042
Tupperware 4.75% 2021
Transocean 9.35% 2041
Eqt 4.875% 2021
Centurylink 6.45% 2021
Xerox 4.5% 2021
Howmet 5.4% 2021
Gap 5.95% 2021
Genworth 7.625% 2021
Noble Holding 6.05% 2041
Noble Holding 6.2% 2040
Cenovus 6.75% 2039
TransAlta 6.5% 2040
Xerox 6.75% 2039
Diamond Offshore 5.7% 2039
Telecom Italia 7.721% 2038
L Brands 7.6% 2037
StanChart 7.014% Perp
US Steel 6.65% 2037
Howmet 5.87% 2022
J.C. Penney 6.375% 2036
Howmet 5.9% 2027
Arconic 5.95% 2037
Telecom Italia 7.2% 2036
Embarq 7.995% 2036
Telecom Italia 6.0% 2034
MBIA 5.7% 2034
Telecom Italia 6.375% 2033
Genworth 6.5% 2034
U.S. Cellular 6.7% 2033
L Brands 6.95% 2033
MBIA 6.4% 2022
Sprint Capital 8.75% 2032
Frontier 9.0% 2031
RBS 7.648% Perp
Transocean 7.5% 2031
Safeway 7.25% 2031
Ford 7.45% 2031
Commerzbank 8.151% 2031
Sprint Capital 6.875% 2028
Kraft Heinz 6.375% 2028
J.C. Penney 7.4% 2037
J.C. Penney 7.625% 2097
HCA 8.36% 2024

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