Corporate Defaults Would More Than Double Even in Mild Recession, S&P Global Warns

Corporate Defaults Would More Than Double Even in Mild Recession, S&P Global Warns
The S&P Global logo is displayed on its offices in the financial district in New York City, on Dec. 13, 2018. Brendan McDermid/Reuters
Katabella Roberts
Updated:
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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 shallow or mild economic downturn.

Katabella Roberts
Katabella Roberts
Author
Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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