Don't Hold Your Breath Waiting for a Wave of Defaults by American Commodity Companies
But look out for the maturity wall.
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The fresh stretch of softness in commodity prices since early December has been at the epicenter of exploding junk bond spreads, causing many investors to doubt the ability of companies to service their debt.
The year 2015, according to credit strategists at Société Générale, was devoted to pricing in rising default risk.