Batteries May Trip ‘Death Spiral’ in $3.4 Trillion Credit Market

Battery technologies starting to disrupt the electricity and automobile industries may also emerge as a trillion-dollar threat to credit markets, according to Fitch Ratings. A quarter of outstanding global corporate debt, or as much as $3.4 trillion, is linked to the utility- and auto-industry bonds that rely on fossil fuel activities, the ratings agency wrote in a report published Tuesday. Batteries have the potential to “tip the oil market from growth to contraction earlier than anticipated,” according to Fitch.
Read more: http://www.bloomberg.com/news/articles/2016-10-18/batteries-may-trip-death-spiral-in-3-4-trillion-credit-market?source=Snapzu