Sorry. If the system can’t withstand junk debt defaulting, then the system sucks. There has to be at least some heavy regulation on debt issuance if this is the game now. Maybe ban stock buybacks for junk rated corporations?
The credit rating agencies and analysts effectively deny or limit market access to issuers with bad finances. Buying already issued debt that is suddenly distressed due to the COVID-19 economic crisis bails out investors, not the issuers.