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Credit rating firm S&P Global has warned that speculative-grade U.S. and European corporate default rates are likely to double and might even treble next year as rising borrowing costs take their toll. The firm estimated that the "trailing-12-month default rates" in the U.S. and Europe would reach 3.75% and 3.25% respectively by September, more than double the 1.6% and 1.4% in September 2022.

Credit rating firm S&P Global has warned that speculative-grade U.S. and European corporate default rates are likely to double and might even treble next year as rising borrowing costs take their toll. The firm estimated that the "trailing-12-month default rates" in the U.S. and Europe would reach 3.75% and 3.25% respectively by September, more than double the 1.6% and 1.4% in September 2022.

Cryptocurrency exchange Kraken said on Wednesday it would cut its global workforce by 30%, or about 1,100 employees.

SEGRO PLC (SEGXF): * LAUNCH AND PRICING OF A ?350 MILLION, 19-YEAR SENIOR UNSECURED BOND ISSUE, PRICED AT 175 BASIS POINTS ABOVE GILTS, Source text for Eikon: Further company coverage:

* FITCH RATINGS: SLOWING GLOBAL DEMAND DIMS CHINA'S EXPORT OUTLOOK Source text for Eikon:

Copper Mountain Mining Corp (CPPMF) : * COPPER MOUNTAIN MINING RECEIVES BONDHOLDER APPROVAL FOR THE SALE OF THE EVA COPPER PROJECT AND THE AUSTRALIAN EXPLORATION TENEMENTS AND ANNOUNCES BOND BUYBACK OFFER Source text for Eikon: Further company coverage:

S&P GLOBAL: * S&P SAYS LIECHTENSTEIN 'AAA/A-1+' RATINGS AFFIRMED; OUTLOOK STABLE Source text for Eikon: Further company coverage: [ ]

S&P GLOBAL: * S&P SAYS BULGARIA 'BBB/A-2' RATINGS AFFIRMED; OUTLOOK STABLE Source text for Eikon: Further company coverage: [ ]

S&P GLOBAL: * S&P SAYS BAHRAIN OUTLOOK REVISED TO POSITIVE FROM STABLE ON IMPROVING FISCAL TRAJECTORY; 'B+/B' RATINGS AFFIRMED. * S&P ON BAHRAIN SAYS POSITIVE OUTLOOK INDICATES THAT IT EXPECT THE GOVERNMENT WILL CONTINUE IMPLEMENTING FISCAL REFORMS TO REDUCE THE BUDGET DEFICIT.

Adler Group SA (ADPPF): * EQS-ADHOC: ADLER GROUP S.A. (ADPPF): AGREEMENT WITH BONDHOLDER GROUP ON AMENDMENT OF NOTE TERMS AND PROVISION OF SECURED DEBT FINANCING. * BONDHOLDERS HOLD AROUND 45% OF BONDS ISSUED BY ADLER GROUP (ADPPF). * ADLER GROUP INTENDS TO ENTER INTO A CORRESPONDING AGREEMENT WITH A MAJORITY OF ITS BONDHOLDERS IN DUE COURSE.