The amount of E&P bankruptcies, along with poor debt recoveries, could put the current oil bust at par or even worse than the telecommunications collapse of the early 2000s.
"When all the data is in, including 2016 bankruptcies, it may very well turn out that this oil and gas industry crisis has created a segment-wide bust of historic proportions in terms of the number of defaults in the same industry segment, coupled with poor firmwide recovery rates compared with historical averages," Moody's said.
Companies
