The Wall ( of debt )

While we are all focussed on the Q3 result season, the number one issue that must keep CFOs of leveraged companies awake at night is the refinancing of their debt. Companies cruised through 2023 with little need of refinancing at high rates. This is going to change radically over the next 4 years and put some companies in distress as they struggle with the higher interest burden. We continue to focus on businesses with low debt as they can focus on their business instead on their financing needs in the current environment.