According to a recent report by S&P Global, global corporate defaults have doubled from March to April, raising concerns about the economic impact of the ongoing pandemic. The data reveals a significant increase in the number of companies defaulting on their debt obligations, indicating the financial strain faced by businesses worldwide.
The rise in corporate defaults is attributed to the widespread disruptions caused by the COVID-19 crisis, which has led to a sharp decline in revenue for many companies. With lockdown measures and supply chain disruptions affecting businesses across various sectors, companies are struggling to meet their financial commitments.
