Enterprise balance sheets are under increased scrutiny as approximately $1.2 trillion in corporate debt matures over the next twelve months. Average yield-at-issuance expectations have increased by 250 basis points compared to pre-2022 levels.
Capital Allocation Shifts
To preserve liquidity, investment-grade issuers are deferring non-essential capital expenditures and restructuring short-term credit facilities. M&A activity in capital-intensive sectors is projected to remain subdued through the fiscal year.