US High Yield trailing 12m 

default rate by rating

High Yield distress ratio

(%)

BBs

Bs

CCCs (rhs)

USD HY (5.9%)

EUR HY (8.4%

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US High Yield trailing 12m 

High Yield distress ratio

EUR HY (8.4%

USD HY (5.9%)

CCCs (rhs)

Bs

BBs