DISTRESS WATCH: Teas, Grocers Push Distress to Two-Month High

The global amount of debt in distress rose to the highest in two months at the end of last week as investors continue to scour their portfolios looking for their weakest holdings following the First Brands collapse.

The total amount of bonds and loans in Bloomberg News’ global distressed debt trackerincreased 1.8% to $518.5 billion during the week ended Oct. 24, the highest reading since Aug. 22, according to data compiled by Bloomberg, with CVC’s Lipton Teas and Infusions and Apollo’s Heritage Grocers making their debut in distressed territory.

Lipton, the owner of some of the most ...