PDI Picks – 6/7/2021

The distressed opportunity mounts up


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Leveraged loan defaults have been accelerating, with companies having come under strain during the pandemic.

Considering there has been a lot of talk about the delaying of the distressed opportunity as a result of companies being propped up by government support schemes, the figures in the chart above – showing US leveraged loan defaults shooting through the roof – may come as something of a surprise.