Corporate bankruptcies and defaults are surging – here’s why. Corporate defaults rose last month, with 41 in the U.S. so far this year. That’s more than double the same period last year, according to Moody’s Investors Service. Companies are defaulting on their debt due to uncertain economic conditions and heavy debt loads. High interest rates have made it difficult to refinance, as debt is more expensive. The number of bankruptcy filings in the U.S. this year has also sharply risen, to levels not seen since 2010.
TOPICS AND TIMESTAMPS:
World Economy 0:00
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