How worried should we be about a corporate debt ‘bomb’ exploding?

by BillionDollaWhale

There is currently near record amounts of corporate debt that was fueled by extremely long lasting low interest rates. This article was written prior to the virus outbreak, but especially sounds prescient now:

https://www.washingtonpost.com/business/economy/corporate-debt-nears-a-record-10-trillion-and-borrowing-binge-poses-new-risks/2019/11/29/1f86ba3e-114b-11ea-bf62-eadd5d11f559_story.html

If there is a severe economic contraction due to the virus, does this exponentially get worse if companies start defaulting on their debt? Is this worrisome in your opinion?