Companies Repeated Defaults at Record Level in 2024, JPMorgan Says
- Around 35% of 2024 defaults were repeat offenders, report said
- Loan default rate far outpaces that of high-yield bonds
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Risky companies defaulted more than once at a record rate in 2024, according to a new report from JPMorgan Chase & Co.
Around 35% of the year’s defaults and distressed exchanges were repeat offenders in a historical record, the report from strategists led by Nelson Jantzen said. That’s while the leveraged loan default rate is at a roughly four-year high.