Global corporate debt defaults more than doubled in April from March to their highest monthly tally since October 2020, according to a report from S&P Global Ratings.
April saw 18 defaults globally, led by the 10 U.S. defaults worth $7.1 billion, according to the S&P report published on Monday. These include the bankruptcies of IT provider ConvergeOne Holdings and fashion retailer Express Inc (EXPRQ.PK).