By Julia Gamburg and Jeffrey Tapper
2017 has been marked by broad economic optimism, with healthy earnings and low default rates in high yield (HY). Based on our review of 201 high yield companies, 2017 revenues increased 8% year-over-year (yoy) and 2017 EBITDA increased 13% yoy over the second quarter. We believe EBITDA could be stronger in the coming quarters if tax reform and a more deregulatory environment take hold, giving high yield companies an ability to grow into their capital structures.
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