September 21, 2017 / 8:37 PM / in a month

Leveraged loan defaults may hit 10 percent on Toys 'R' Us bankruptcy

Monday’s bankruptcy filing by Toys ‘R’ Us could lift Fitch Ratings’ forecast default rate for this year for institutional leveraged loans to more than 10 percent, representing nearly $7 billion in debt, the credit rating agency said on Wednesday.

The Chapter 11 petition of the biggest U.S. toy store chain pushed the default rate to more than 7 percent from last month’s 5.3 percent and marked the sixth such default by a retailer since April, the credit rating added.

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