Tupperware’s lack of sales growth and a financial performance that isn’t meeting its executives’ expectations are slowing the pace at which the company will meet its target for debt to Ebitda, said Jane Garrard, vice president of investor relations at the Orlando, Florida-based company.

Some Success

Some companies have managed to trim their debt loads. Verizon posted total debt of $134.8 billion for the end of the second quarter, down from $135.6 billion in the first quarter. Its borrowings also fell relative to Ebitda over that period, according to data compiled by Bloomberg. Kraft Heinz Co. has cut its total borrowings to $31.8 billion as of the end of June, down from $34.2 billion in the same period a year ago.

Investment-grade companies are selling so much debt because investors are eager to gain more yield as the Fed cuts rates. September has been one of the busiest months on record, with corporations having sold more than $150 billion of high-grade bonds. For junk-rated companies, the story is in many cases different, as the riskiest of the risky have struggled to borrow.

Decade of Debt

Overall, blue-chip companies’ debt loads have been rising for most of the last decade, as they’ve financed acquisitions, bought back stock and taken other moves designed to boost earnings per share. The total value of U.S. investment-grade corporate bonds stands around $5.8 trillion, a record and more than triple the level in October 2008. Companies are hoping they can pay down some of that debt as profits roll in.

Companies’ debt levels may not end up being a huge problem for corporate bonds, according to Dominique Toublan, head of U.S. credit strategy at BNP Paribas. The borrowers at the bottom end of the investment-grade spectrum, those rated in the BBB tier, don’t have much room to borrow more, so debt levels can only rise so much.

“We don’t feel like it’s a big headwind for the market. It’s more like the tailwind is slowing down and it’s okay," Toublan said.

Investors Complacent?

Companies may believe the economy is doing just fine and there’s time to pay down debt later. Recent indicators suggest that growth may be better than investors feared earlier this year, which sent the Bloomberg U.S. Economic Surprise Index to an 11-month high this week. And lower bond yields often allow companies to cut their interest costs when they refinance debt, which could improve measures like debt service coverage ratios.