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  "documentTitle": "Distress Alert July 2024",
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      "text": "A slower pace of interest-rate reductions, heightened uncertainty with several major upcoming elections and stubbornly high inflation suggest that financing conditions will remain tight for corporates through the second half of the year and into 2025. The pressure will be higher for lower-rated companies with debt maturing in the next six to 12 months, as they struggle to access the credit market to meaningfully push out their maturity walls. We anticipate this will result in increased restructuring activity in the latter part of the year.",
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      "text": "Fashion Retail emerged as the most distressed sector, with the highest year-on-year increase in distress levels among all sectors. The corporate health of Media & Entertainment companies has worsened further from the previous ADA, making it the second worst industry, followed by Chemical & Others3. In addition, Construction has also seen a significant rise in distress levels compared to the previous comparable period.",
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      "text": "Fashion and Media & Entertainment are the most distressed sectors",
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      "text": "Higher-for-longer and elections complicate outlook for borrowers",
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      "text": "3 Chemical & Others include the following sub-sectors: Chemicals and Chemical Preparations, Diversified Chemicals, Fertilizers and Agricultural Chemicals, Industrial Gases, Specialty Chemicals, Commercial Printing, Paper Products, Metal and Glass Containers and Paper Packaging.",
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