Corporate defaults around the world recorded the highest quarterly increase in the first quarter of this year compared to any other period since late 2020 when businesses were groaning under the restrictions imposed to limit the spread of the Corona pandemic.
Rating agency “Moody's” revealed that 33 of its rating companies defaulted on their debts in the first quarter, the highest level since the fourth quarter of 2020 when 47 companies defaulted. According to the report, 15 companies defaulted on debt in March, the highest month-on-month rate since December 2020.
Last month's bank collapse caused panic among investors and regional bank customers in the United States and shattered confidence in the global banking sector in general.
Source (Al Arabiya.net Website, Edited)
