The U.S. Distress Ratio slipped to 24.8% in March from 33.9% in February, the first time this measure of market duress has decreased in almost a year, according to S&P Global Market Intelligence.

One notable change from last month: The oil and gas sector accounted for 128 of the 438 issues in the Distress Ratio, compared to 172 in February. Still, O&G has the highest sector distress level, at 63.1%, followed by metals/mining.

The full Distressed Debt Monitor report is available via S&P’s Global Credit Portal (subscriber site). This analysis also includes the U.S. Default Surveillance Tool Kit, high-yield issuance by quarter, distressed activity by dollar amount, as well as Distress Ratio by Industry. – Staff reports

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