AMERICAS DISTRESS DAILY: Mudrick Expects Elevated Defaults

More companies will fail to repay debt as funding costs remain high, according to Mudrick Capital Management.

• “What we’re getting is just elevated defaults every year, we think for the next five to seven years,” Jason Mudrick, the distressed debt fund’s founder and chief investment officer, told Bloomberg News’ Irene Garcia Perez and Bloomberg Intelligence’s Mike Holland in the latest Credit Edge podcast.

In Other News:

• A former Jefferies Financial Group Inc. hedge fund manager was charged with fraud by federal prosecutors in New York for allegedly directing the purchase of nearly $100 million in bonds tied to a water-vending ...