DISTRESS WATCH: Dish, Bausch Lead Credit Stress to New 2024 Low

The world’s tally of distressed debt shrunk by the most this year as the Federal Reserve cut interest rates for the first time since 2020 and amid reports of potential M&A interest for Dish Network and Bausch Health.

News of a potential tie-up between Dish and DirecTV lifted almost $4 billion of the the satellite firm’s debt out of distress last week.

A further boost for Dish came from the recovery of the telecommunications sector following Verizon’s offer for Frontier Communications. The satellite TV provider’s bonds gave back some of those gains on Monday, however, as parent company ...