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Banks and companies are finding it hard to roll over their foreign debt.
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Because debt may be harder to roll over, Mr. Grabelsky said he had asked Fitch's analysts to review the bonds of any company that will need to refinance its debt in the next few months, especially if the company already carries a low credit rating.
In Britain solid corporate giants are finding it harder to roll over routine loans.
"The fact that we played hard and came back and had a chance to roll over and we didn't.
If international investors continue to shun risk and rich-world governments swamp markets with their own borrowing, it will be hard for emerging-market governments to issue bonds and for banks and firms to roll over debts.
Those whose existing debt has shorter maturity have to roll over more debt each year and would be harder hit by higher yields.
"They're not going to roll over".
"These guys aren't going to roll over for anyone".
Hungary needs $15 billion to roll over its foreign debt.
Most people want to roll over and sleep.
Greece has previously managed to convince bondholders to roll over their T-bill holdings, but with the country's position growing more uncertain this pattern will become harder to maintain.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com