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  "documentTitle": "Distress Alert July 2025",
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      "text": "Since 2020, the share of businesses lacking balance sheet robustness has steadily increased, reaching a record 32% of our dataset last year, which represents over 2,500 corporates.",
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      "text": "02 Nearly a third of balance sheets are in a precarious state. Since 2020, the share of businesses lacking balance sheet robustness has steadily increased, reaching a record 32% of our dataset last year.",
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      "text": "05 Tariffs pose threat to growth and refinancing prospects. Volatility in the public debt markets, coupled with an economy impacted by tariffs and heightened geopolitical instability is expected to intensify operational and financial challenges.",
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      "text": "01 Distress levels plateau in respite before tariff turmoil. Levels of financial distress have stabilised year-on-year, with 8.8% of companies in the dataset of nearly 8,000 firms classified as distressed in 2024.",
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      "text": "03 France sees surge in distress; German firms remain strained. France recorded the sharpest increase in distress levels in 2024, rising to 10.5% from 8.1% the year before.",
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      "text": "04 Rising distress in Entertainment & Media Services, Fashion Retail, Automotive. As in previous editions of this report, Media, Entertainment & Media Services and Fashion Retail remain the most distressed sectors.",
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