Moody's Sees Junk Defaults Reaching Highest Since 2009

  • Energy, mining sectors bear brunt of pain on commodities rout
  • `Credit cycle is turning' with investor caution on the rise

Global junk-bond defaults will rise to the highest level in seven years in 2016 as a prolonged downturn in commodity prices continues to wreak havoc on company profits and balance sheets, according to Moody’s Investors Service.

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