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S&P warns 1 in 10 US firms may default on debt amid virus outbreak

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A wave of company defaults is likely to sweep the United States and Europe as measures to contain the coronavirus spark a recession, S&P Global Ratings said Friday.

[PARIS] A wave of company defaults is likely to sweep the United States and Europe as measures to contain the coronavirus spark a recession, S&P Global Ratings said Friday.

The agency said it believes the global economy will go into reverse under the impact of the coronavirus crisis...

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