Source: Yahoo Finance
Date of Publication: May 19th, 2020
COVID-19- related corporate bankruptcies and debt defaults in the U.S. are on the rise. And it’s likely to get much uglier in the months ahead, despite efforts by lawmakers to shore up corporate balance sheets. “So far this year, we’re almost running at a rate of double the defaults of last year,” said S&P Global CEO Douglas Peterson on Yahoo Finance’s The First Trade. “We think that there is going to be an increase in default levels up to potentially 10% of the high yield debt [markets].” In April, the rate was 3.9%.