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

This includes $30 trillion of debt that will need refinancingand $13 trillion to $16 trillion of new money needed to spurgrowth, the ratings company said.

“This global wall of non-financial corporate debt willpotentially compound the credit rationing that may occur as banksseek to restructure their balance sheets, and bond and equityinvestors reassess their risk-return thresholds,” Jayan Dhru,senior managing director of global corporate ratings at S&P inNew York, said in the report.

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