Global corporate defaults doubled from March to April, S&P finds

Matt Tracy - Reuters - 15/05
Global corporate debt defaults more than doubled in April from March to their highest monthly tally since October 2020, according to a report from S&P Global Ratings.
May 15 (Reuters) - Global corporate debt defaults more than doubled in April from March to their highest monthly tally since October 2020, according to a report from S&P Global Ratings.
April saw 18 defaults globally, led by the 10 U.S. defaults worth $7.1 billion, according to the S&P report published on Monday. These include the bankruptcies of IT provider ConvergeOne Holdings and fashion retailer Express Inc (EXPRQ.PK)New Tab, opens new tab.
"Looming maturities, strained operations, and elevated refinancing costs were among the main reasons for the increase in bankruptcies," the report said.
In the U.S., 56% of April...
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