(CNBC) The number of companies that failed to make required payments on their debt totaled 153 for 2023, up from 85 the year before, an increase of 80%. It was the highest default rate outside of the Covid-related spike in 2020 in seven years. Much of the total came from low-rated companies that had negative cash flows, high debt burdens and weak liquidity, S&P said.
Corporate debt defaults soared 80% in 2023 and could be high again this year, S&P says
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