Debtwire Middle-Market – 5/8/2023

Defaults are expected to face prolonged rise


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Source: Debtwire Par

Bubbling up: defaults continue year-long rise

Default rates have been increasing steadily month-on-month (MoM) from a low in February 2022 of only 0.4% to over 2% of the loan universe as of March 2023. Bond rates have similarly been on the rise over the same period, currently sitting at 1.8% and up from a low of 0.3% in February 2022, according to data from Fitch Ratings.