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Downgrades have been pouring down on the bond market like cold March rain since pandemic-driven lockdowns triggered a global sell-off. The last time the major credit-rating agencies marked so many issues down to junk status was during the 2008-2009 financial crisis. This time around, the downgrades pushed more than $92 billion of bonds into so-called fallen angel status in March alone, with more threatening to follow -- a move that can have serious financial consequences for borrowers. The downg