The Bankruptcy Files: A Big Start to 2012
AtÂ AM Law Daily, Brian Baxter reports:
Signs that the economy is improvingÂ notwithstanding, the number and size of large corporate bankruptcies could double in 2012,Â according to a new Fitch Ratings report covered by CNNMoney.
Fitch predicts that corporate bond defaults will hit 3 percent this yearâ€”more than double last year’s 1.4 percent and 2010’s 1.3 percent. Middle market companies valued between $200 million and $1 billion are at particular risk because of the difficulty they face in trying to refinance and restructure outside of court, according to the ratings agency.