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1 minutes to read by  BlueBay Fixed Income team, A.Phillips, D.Farley Jan 16, 2025

Despite a slight improvement in 2024, distress levels across Europe remain elevated.

Key takeaways

  • European Special Situation markets have seen a rise in liability management exercises, which in turn has led to large co-op agreements between creditors.

  • The European business cycle has diverged from the US, which is creating a strong pipeline of opportunities for European Special Situations investors.

  • The outlook for 2025 in Europe is fraught with uncertainty due to economic weakness, political instability, and layoffs in key economies, yet sectors present opportunities.

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