An estimated $10.763 trillion in rated corporate debt is expected to mature through Dec. 31, 2024, reflecting a 3% year-over-year increase, S&P Global Ratings said in a new report published Feb. 4.

The rating agency said 77% of that corporate debt, or $8.286 trillion, is investment grade, while 23%, or $2.477 trillion, is speculative grade.

Annual maturities will peak in 2022 at $2.295 trillion. For the speculative-grade debt, which carries more refinancing risk, maturities are weighted toward 2023 and beyond, according to S&P Global Ratings.

"Maturities appear largely manageable in the near term as monetary easing by multiple central banks is contributing to favorable funding conditions for companies, particularly those with higher credit quality," Nick Kraemer, head of S&P Global Ratings Performance Analytics, wrote in the report.

Nonfinancial corporates account for 61%, or $6.591 trillion, of the debt maturing through 2024, and financial services account for 39%, or $4.172 trillion.

For nonfinancial corporate debt, annual maturities are set to peak in 2024 at $1.521 trillion. Annual maturities for financial services companies are expected to peak in 2020 at $924.4 billion.

S&P Global Ratings said 93% of the total debt due through 2024 is from companies in the U.S., Europe and other developed markets. Emerging-market debt comprises the remaining 7%.

In the U.S., nonfinancials account for 76% of the corporate debt maturing through 2024. Of that debt, 39% is speculative grade. The U.S. also holds the largest share of financial services debt due through 2024, at $1.1 trillion.

S&P Global Ratings said about $2.3 trillion in speculative-grade nonfinancial debt is set to mature through 2024, while $184 billion in speculative-grade debt from financial services is scheduled to mature through the same year.