Default, Transition, and Recovery: Global Bond Markets' Weakest Links And Monthly Default Rates Jan 07
- ID: 2025179
- January 2007
- Region: Global
- Standard & Poors
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...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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