Moody's: Tax overhaul would benefit all US non-financial companies

"The government's proposed corporate tax overhaul would benefit all US non-financial companies except those with high debt loads," Moody's Investors Service argued in a recently published report. 

Key quotes

The benefits of a tax rate cut to 20% from 35% and full upfront capex deductibility outweigh the cost of a limit on interest deductibility for all but a handful of investment-grade non-financial companies.

Based solely on these three factors, few higher-rated speculative-grade companies will be worse off because of the changes outlined in either the House or Senate plans.