Corporate borrowers squeezed by rising rates

By DAMIAN J. TROISE
AP Business Writer

Companies that piled on debt throughout the pandemic and the economic recovery could be in for a tough road ahead as the bills come due. Corporate borrowers will have to pay more of that debt back as refinancing grows more difficult with rising interest rates. Economists and analysts expect some kind of recession to hit the U.S. economy in 2023 and the severity of it could weigh heavily on both large and small companies as they repay debt.