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Professor Edward Altman predicts that 8% of all firms whose debt is rated speculative grade will default in the next 12 months

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Excerpt from The Economist -- "Edward Altman of nyu Stern Business School reckons that about 8% of all firms whose debt is rated speculative grade (about 1,900 in all) will default in the next 12 months. This figure could reach 20% over two years. He expects at least 165 large firms, those with more than $100m in liabilities, to go bankrupt by the end of 2020."

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