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���������ֳ�’ outlook for global corporates remains broadly neutral, even with slower world economic growth, still-high interest rates, rising default rates in leveraged finance markets and heightened geopolitical risk. Mid-year aggregate forecasts for our portfolio of 1,800 ���������ֳ�-rated issuers globally include revenue growth of 1.2% in 2024, a slightly higher EBITDA margin of 17.7%, flat total debt/EBITDA of 2.7x and an interest coverage ratio that holds steady at 8.2x.