Default, Transition, and Recovery: Global Weakest Links And Default Rates: Global Default Rate Increased Marginally In December Jan 12
- Language: English
- Published: January 2012
- Region: Global
This month, we note the following key points: Two defaults were recorded among global corporates rated by Standard & Poor's Ratings Services since the last report, making a total of 29 corporate defaults in 2006, affecting rated debt worth US$7.13 billion. The 12-month trailing global corporate speculative-grade bond default rate decreased to 1.09% in December from 1.19% in November. This has been below its long-term (1981-2006) average of 4.48% for 35 consecutive months. By region, speculative-grade default rates were recorded at 1.26% in the U.S., 2.07% in Europe, and 0.38% in the emerging markets. As of Jan. 11, 2007, 27 weakest links remained vulnerable to default on combined rated debt worth US$11.2 billion, the highest in 27 months. This is...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
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