U.S. corporate defaults hit post-pandemic high: Moody's
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U.S. corporate debt defaults surged in 2023, with non-financial defaults almost tripling to 92 from 31 in 2022. The annual issuer-weighted default rate was 5.6% by the end of 2023 and is expected to rise to 5.8% in early 2024 before slowly reversing. The weakest credit ratings also rose in Q4 2023. The telecommunications and durable consumer goods sectors are projected to have the highest default rates in 2024. Private equity-backed companies led the way in defaults, with more loan defaults than bond defaults. About half of the defaults in Q4 2023 involved repeat offenders. Moody's expects the trend of above-average default rates to continue in the first half of 2024.

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https://www.investmentexecutive.com/news/research-and-markets/u-s-corporate-defaults-hit-post-pandemic-high-moodys/