1/BROKEN RECORDSS&P Global has already made 1,190 downgrades so far this year. That is just 136 short of the record 1,326 set in 2009 during the global financial crisis, and more than four months are left in the year.Almost 975 of those downgrades have been directly affected by COVID or the partly related collapse in oil prices.
If cuts to rating outlooks are also added, that number rises to 1,939.Fitch isn't far behind. It has had nearly 1,500 negative rating actions altogether, although total downgrades is less than half S&P's at 441.2/ACROSS THE BOARDEvery sector has been affected by the coronavirus, but energy and oil companies, retailers, media and entertainment companies, airlines, travel and leisure, banks and capital goods firms.