(AP Photo/Kiichiro Sato)
- There's $1.8 trillion of corporate debt maturing over the next two years, Goldman Sachs estimated.
- Firms could be slammed with higher debt servicing costs as interest rates stay elevated.
- That could eat into corporate revenue and weigh on the US job market.
US firms are barreling towards a giant wall of corporate debt that's about to mature over the next few years, Goldman Sachs strategists said in a note on Monday.
The investment bank estimated that $7.9 billion of corporate debt was set to mature in 2024, followed by $1.07 trillion of debt maturing in 2025. That amounts to $1.8 trillion of debt reaching maturity within the next two years, in addition to another $230 billion that will reach maturity by the end of this year, Goldman strategists said.