Credit Market Update: Fallen Angels, Fed Liquidity Programs and Conning’s Market Outlook

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The COVID-19 pandemic has led to significant downgrades in U.S. corporate credit and a growing number of “fallen angels” – credits that were investment grade but have since fallen to a below-investment-grade rating. In a Q&A, Matt Daly, head of Corporate and Municipal Teams, discusses current credit market dynamics and opportunities for insurers that steer clear of fallen angels.