US distressed debt level rises sharply in March-S&P

Newswire

NEW YORK, March 24 (Reuters) - The number of U.S. junk bonds trading at distressed levels surged by 5 percentage points in March, a sign that defaults are set to escalate over the next several months, Standard & Poor's said on Monday. Bonds are considered distressed when their yields, which move inversely to prices, are at least 10 percentage points more than those on U.S. Treasuries. About 22.2 percent of U.S. junk bond issues were distressed in March, up from 16.9 percent in ...

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