According to Moody’s, FASB’s much-anticipated new lease accounting standard requiring the recognition of operating leases on the balance sheet will increase reported debt by roughly $1 trillion.

Moody’s noted that retail, restaurants and airlines will be the most affected sectors, with some sectors expecting lease debt to increase by over 50%.

However, Moody’s postulated that while reported lease debt will rise materially, it does not expect many rating changes.