The Bank for International Settlements continues to sound the alarm surrounding corporate debt. Per an article in the FT, “mutual funds that invest in investment-grade debt have increased their share of triple B bonds to about 45 percent of portfolios in the US and Europe, from 20 percent in 2010.” Triple B debt is the lowest rating that qualifies for investment grade. The concern is that if enough issuers were abruptly downgraded it would create a corporate debt fire sale.