Bain Capital’s Rufino Warns Software Default Rate Risks Hitting Double Digits

Software default rates are at risk of soaring into double digits as disruption from artificial intelligence spreads and loans come due, according to Bain Capital.

“We’re going to see real stress in the market,” said Angelo Rufino, head of special situations in North America and corporate special situations in Europe. “This is just classic credit cycle where a sector received undue attention and enormous amounts of money,” he said on the latest Bloomberg Intelligence Credit Edge podcast.