DISTRESS WATCH: Troubled Debt Shrinks to 2024 Low After Rebound

The global tally of distressed debt shrank to the lowest level of the year as credit conditions eased following last week’s rebound in markets worldwide.

Distressed bonds and loans in the Bloomberg News distressed debt tracker dropped 2.7% to $566.4 billion in the week ended Aug. 16, the biggest decline in almost seven months. The improvement was led by the Americas, where troubled debt declined by 5.8%, while falling 2.9% in EMEA but increasing 0.6% in APAC.

Companies in Patrick Drahi’s cable and telecommunications empire led the decline in distress last week after the tycoon sold his stake ...