Capital Restructuring | First Quarter 2020

May 2020 – By the end of 2020, Moody’s and S&P are projecting default rates of 13.4% and 10.0%, respectively, levels not seen since 2009. According to Moody’s, the deterioration in credit conditions is the result of the confluence of the coronavirus outbreak, falling oil prices, and mounting recessionary conditions, which combined have created severe and extensive credit shocks across many sectors.

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