S&P sees corp high yield default rate doubling by year end

March 30, 2023 04:21 AM AEDT | By Reuters
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March 29 (Reuters) - S&P Global Ratings Credit Research & Insights said on Wednesday that it expects the U.S. trailing-12-month speculative-grade corporate default rate to reach 4% by December, more than doubling the 1.7% default rate at the end of Dec. 2022.

"If, as we expect, unemployment rises and discretionary spending erodes, consumer-reliant sectors, which make up roughly half of borrowers in the ‘CCC’ to ‘C’ categories, will suffer most, S&P analysts wrote. (Compiled by the Global Finance & Markets Breaking News team)


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