Global Corporate Defaults in 2024 Lower Than Last Year, Says S&P

Global corporate defaults are on track to close the year below 2023 levels, according to a report by S&P Global Ratings released on Friday.

• The total number of defaults by the end of November had reached 135, compared with 141 last year and a five-year average of 128
• Europe is the only region where year-to-date numbers increased, but the pace of defaults there is stabilizing, said S&P analyst Ekaterina Tolstova
• The media and entertainment, consumer products and health care sectors account for most defaults
• Distressed exchanges remained the primary cause of defaults year-to-date

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