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The Ratings View: May 17, 2023

In this week's summary of ratings views: We expect the trailing-12-month speculative-grade default rate to reach 4.25% in the U.S. and 3.6% in Europe by March 2024. The global default tally hit 50 as of April, 75% higher than at the same point in 2022. We revised outlooks on the ratings of seven U.S. banks to negative from stable.


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