DISTRESS WATCH: Global Distressed Debt Drops Amid Quiet Week

The tally of bonds and loans in the Bloomberg News distressed debt tracker edged slightly lower, decreasing 0.15% to $563.6 billion last week, holding at the lowest level of the year.

The decline was driven by a slowdown in trading activity in leveraged loans ahead of Labor Day in the US, as reflected by prices tracked by Bloomberg. Loans issued by companies including Magenta Buyer and Mobileum dropped out of the universe. Conversely, the amount of bonds trading at distressed levels increased 0.3% to $479 billion.

In the Americas, the total bonds and loans in the distressed tracker decreased 0.8% ...