Aegon’s Junk Debt Chief Braces for Credit Pain as Cracks Spread

More highly-indebted companies will tip into distress as the US economy slows and earnings suffer, according to Aegon Asset Management.

“I am bracing for a little more trouble ahead,” Jim Schaeffer, the $380 billion manager’s global head of leveraged finance, said on the latest Bloomberg Intelligence Credit Edge podcast. “We’re starting to see more and more companies just hitting a wall.”