Global corporate defaults surged in December, according to a report by rating agency Moody’s, setting the stage for more missed debt payments ahead as low-grade, highly leveraged businesses grapple with a prolonged period of steep funding costs.
Twenty companies rated by Moody’s defaulted on their debt last month, up from four in November, lifting the annual count to 159. That took the global 12-month trailing corporate default rate to 4.8 per cent by December, the highest rate since the year to May 2021 — a period that included bankruptcies linked to the economic fallout from the coronavirus pandemic.
“High funding costs, together with tighter financing conditions . . . prompted a rise in corporate defaults during 2023,” wrote Moody’s.
您已阅读18%（744字），剩余82%（3436字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。