More highly indebted companies will slip into distress as the US economy slows and earnings suffer, according to Aegon Asset Management. “I am bracing for a little more trouble ahead,” Jim Schaeffer, the $380 billion manager’s global head of leveraged finance, tells Bloomberg News’ James Crombie and Bloomberg Intelligence’s Julie Hung in the latest Credit Edge podcast. “We’re starting to see more and more companies just hitting a wall,” he adds. They also discuss the third-quarter earnings outlook, opportunities in structured finance, how to invest in the debt of beer and food companies, as well as private credit hazards.
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