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The Roundup: Top Takeaways from Oaktree’s Quarterly Letters – June 2023 Edition
The Insight by Oaktree Capital
The Rise of Distressed Credit Opportunities
The amount of lower-rated corporate debt outstanding has quadrupled since 2007 to over $12 trillion globally. Almost no companies anticipated that interest rates would jump by 500 bps in one year, and us a substantial percentage fail to adequately hedge their interest rate risk. As a result, many businesses are being squeezed by higher borrowing costs and increasingly unsustainable debt burdens.
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