Defaults in Fitch’s PMM portfolio persisted at a low level this quarter with two issuers defaulting, bringing the YTD total to 10 defaults across eight unique issuers on a portfolio including around 275 companies, although Fitch expects defaults in its PMM portfolio to increase in 2024. For reference, following a sharp increase to approximately 20 issuers in each of 2020 and 2021 due to the pandemic, defaults were largely subdued in 2022, when eight issuers defaulted.
(Past performance is no guarantee of future results.)
Contact: Brad Hamner
brad.hamner@fitchratings.com
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