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Re:Fed to buy junk bonds, lend to states in fresh virus support by cs702 on Thursday April 09, 2020 @11:30AM (#22823492)
They're suddenly rated junk because they have become junk -- i.e., no longer as creditworthy.

Otherwise I agree: this is urgently necessary.

Re:Fed to buy junk bonds, lend to states in fresh virus support by whatok on Thursday April 09, 2020 @11:34AM (#22823539)
Right, but there's a massive difference between the broader high yield universe that would definitely see some credit losses pre-Corona vs recently downgraded companies that would likely be okay without this. These facilities were created to triage, not resuscitate.