DISTRESS WATCH: Telecom Industry Woes Add to Troubled Debt Pile

Financial pressure on companies in the telecommunications and media sectors fueled an increase in the global distressed debt pile for the first time in five weeks.

The dollar amount of bonds and loans in the Bloomberg News distressed debt tracker expanded 0.8% to $583.7 billion in the week ended May 24, data compiled by Bloomberg show. The increase was led by the US arm of Patrick Drahi’s telecom empire, Altice USA. America’s broadcasters also contributed to the increase.

The amount of Altice USA debt actively trading at distressed levels has ballooned to $12.2 billion while the other two silos ...