A default by a major U.S. municipality is more likely than a sovereign debt default this year and next year, according to a survey of restructuring professionals who also expect a rise in bankruptcies of middle market companies.

The findings of that survey were unveiled by AlixPartners on Monday. The survey polled the expectations of 91 bankruptcy lawyers, bankers, fund managers and other restructuring professionals. Topics covered in the survey included economic growth, financial reform, employment, bankruptcy trends and government fiscal health.

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