Financial Firms Top List of Most Indebted Companies Amid Forecast for Lower Rates

Interest rates are expected to decline in 2024, but could remain volatile based on inflation and other economic factors. This impacts corporate debt levels.

Most of the highly indebted companies are financial institutions like banks that rely on debt and leverage as part of their business model.

Non-financial companies on the most indebted list include automaker Toyota which carries far more debt than auto peers.

Many Chinese state-owned banks made the top 25 most indebted list given their key role in financing domestic infrastructure and industries.

Prominent Wall Street banks like Morgan Stanley, Goldman Sachs, and Citigroup also ranked very high in terms of debt levels compared to other corporations.