The rate of corporate defaults for companies in the United States could soar if the economy tips into a “shallow recession,” S&P Global analysts warned on Monday. According to S&P Global Ratings, the default rate for American companies could reach 3.75 percent by September 2023 if the Federal Reserve’s hawkish policy of raising interest rates prompts a…
Corporate Defaults Would More Than Double Even in Mild Recession, S&P Global Warns
China Developer Yango Aims to Avoid Defaults With Bond Swap Backed by Its Chief
SHANGHAI—Chinese homebuilder Yango Group offered on Monday to exchange some U.S. dollar bonds for new notes personally guaranteed by its chairman, as it struggles to free up cash and avoid defaulting on upcoming debt payments. Yango’s liquidity crunch comes against the backdrop of a debt crisis at larger rival company China Evergrande Group, which has…
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