The energy sector is slowly working its way back from the severe demand decline in 2020 due to the coronavirus pandemic. Schlumberger N.V. and Seadrill Limited, at different ends of the risk spectrum, are prime examples that underscore the effectiveness of the FRISK® score in keeping an everyday watch on bankruptcy.
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With summer at an end, 2020 has already been an extreme year for financial risk analysis, with more to come as North American public companies approach Q4 in tenuous positions.
With economies around the world on the brink of recession, or already in one, any professional monitoring financial risk needs to establish proper oversight now before commercial bankruptcies wreak greater havoc upon their portfolio.
As the Bank of England has already raised interest rates in the U.K., the U.S. Federal Reserve is telegraphing at least three interest rate hikes in 2022. With interest rates on the rise, many companies will go from muddling through to facing extreme financial duress.
Public company bankruptcies soared in 2020, and filings continue to roll in as fallout from COVID-19. Here are five of the most notable Chapter 11 cases we've seen so far in 2021, and another five companies we feel are in big-time danger.
In 2021, total liabilities from public company bankruptcies approached $77 billion, delivering formidable material losses to creditors and major disruptions to global supply chains.
China’s non-financial corporate debt-to-GDP is the highest in the world at 160%, and corporate defaults are now running at a record pace.
CreditRiskMonitor’s integration of subscriber crowdsourcing into the FRISK® score continues to prove itself as a unique enhancement, unavailable in any other bankruptcy prediction model. Recently, the "Virtual Credit Group" highlighted the elevated risk of coal miners Peabody Energy Corporation and Alpha Metallurgical Resources Inc.
Nearly 30% of publicly traded companies worldwide are already trending in the FRISK® red zone, indicating heightened bankruptcy risk - and as recession whispers intensify, every day you delay taking action could cost you and your company dearly.