Fri 10/27/2023 10:56 AM
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The median leveraged loan and high yield issuer in the Reorg universe has seen its annualized cost of debt surge close to 200 basis points from the fourth quarter of 2021, according to our Fundamentals data. This has taken a far greater toll on credit metrics than inflation, economic slowdown, or any other theme that impacts companies' EBITDA, which grew 6% for the median company despite decelerating growth. Note that this cost of debt increase trails the increase in rates, defended by...
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