Bank of America plays down market concerns, denies that mega cloud service providers will "flood" the credit bond market.

Bank of America strategists are not worried that the debt share of super-sized cloud service providers in the market will be too large for investors to digest. Bank of America pointed out that the risk premium of the four super-sized cloud service providers with high credit ratings continues to widen, making their relative value quite attractive. The total debt of super-sized cloud service providers included in the ICE Bank of America US Corporate Bond Index is estimated to be $450 billion, a scale much lower than other highly concentrated large industry sectors.