Credit Markets Face $46 Trln Storm

S&P sees ‘global wall’ of refinancing, new issuance over next five years.

Funding needs of non-financial companies in the euro region, U.K., U.S., China and Japan will be $43 trillion to $46 trillion over the next five years, Standard & Poor’s said in a report.

This includes $30 trillion of debt that will need refinancing and $13 trillion to $16 trillion of new money needed to spur growth, the ratings company said.

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