Finance chiefs were getting ready for a recession long before the coronavirus roiled the international economy; however, few expected it to be as swift or extreme.
Many resorted to a tested playbook that included tapping additional liquidity, extending financial obligation maturities and identifying areas for potential cost-cutting.
” After 11 years, we were anticipating a downturn or an economic downturn,” stated Max Brodén, chief financial officer of
an insurance provider.
Last fall, Columbus, Ga.-based Aflac issued brand-new debt and retired some higher-interest bonds that were set to grow in 2022.