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- Non-financial corporate defaults almost tripled from 2022 to 2023, Moody's said.
- Analysts expect defaults to climb further in 2024.
- In the fourth quarter of 2023, private-equity-backed companies led total defaults.
Defaults among non-financial corporations nearly tripled in 2023 compared to the year prior, and Moody's Analytics expects the trend to continue in the new year.
According to a note from the rating agency published Wednesday, defaults jumped from 31 in 2022 to 92 in 2023, which marks the highest total annual tally since the pandemic started in 2020.