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Weak box-office sales, shrinking cable TV audiences and investor pressure to reduce streaming losses have led to thousands of layoffs and cuts in production.
Central bankers’ rapid-fire rate hikes over the past two years have strained the finances of corporate borrowers, making it hard for many of them to keep up with interest payments.
“Over time, that will evolve,” Darren Abrahamson said. “But for now, that just feels to us a little bit early and a little more speculative than our focus.”
February 23, 2024
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