Boston Consulting Group says rising leverage has increased firms' vulnerability;
in Western Europe one in six companies now faces financial stress. BCG's report,
covering about 1,700 European listed firms, identifies Spain and Portugal as
most exposed—22% of firms there need business transformation. Across Europe, the
share of firms requiring transformation rose to 16.2% from 14.3% a year earlier.
France and the DACH region (Germany, Austria, Switzerland) each have the highest
share of firms under severe or restructuring pressure at 10%.
