Divisive Debt Maneuvers; Bank Stress Returns
The Credit Edge by Bloomberg Intelligence
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Distressed Debt in the US
The days of cheap money are over as the Fed has steadily increased interest rates. Global default rates have now reached the highest level since the 2020 pandemic. We're seeing a number of companies entering into negotiations with their lenders to extend the 2020 former charity wall. For instance, data center operator, Sixterra, is looking at multiple options ranging from selling assets to a capital raise to tackle heavy debt load.
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