Default, Transition, and Recovery: Global Corporate Default Update (July 28 - Aug. 3, 2011) Aug 11
- ID: 1857625
- August 2011
- Region: Global
- Standard & Poors
The 2011 global corporate default tally remains at 21 after no corporate issuers defaulted this week. Of the total defaulters this year, 13 were based in the U.S., three were based in New Zealand, two were based in Canada, and one each was based in the Czech Republic, France, and Russia. By comparison, 54 global corporate issuers had defaulted by this time in 2010. Of these defaulters, 38 were U.S.-based issuers, two were European issuers, seven were from the emerging markets, and another seven were in the other developed region (Australia, Canada, Japan, and New Zealand). Eight of this year's defaults were due to missed interest or principal payments and seven were due to distressed exchanges--both among the top reasons...
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