In the realm of credit analysis, structural models are employed to assess the credit quality of firms. Consider a firm that exhibits a stochastic process for its asset value influenced by macroeconomic variables, with a modeled asset growth rate that follows a geometric Brownian motion. The firm's probability of default is directly linked to the likelihood that its asset value falls below a certain threshold (the default barrier) at maturity. Assume that this firm's default barrier is set at the face value of a debt issuance.

If the asset value process is characterized by a volatility of 20% and a risk-free interest rate of 3%, and the firm's asset is currently valued at $10 million, what is the primary implication regarding the firm's credit risk if the asset's volatility increases significantly due to market conditions?