Research And Markets Research And Markets

Default, Transition, and Recovery: Global Bond Markets' Weakest Links And Monthly Default Rates Dec 06

  • ID: 2026252
  • December 2006
  • Region: Global
  • Standard & Poors
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  • Duane Reade Inc.
  • Fedders Corp.
  • Luxfer Holdings PLC
  • National Coal Corp.
  • Remy International Inc.
  • Tembec Inc.
  • MORE

This month, we note the following key points: Four defaults were recorded among global corporates rated by Standard & Poor's since the last report, bringing the year-to-date total to 26 corporate defaults affecting rated debt worth US$6.9 billion. The 12-month trailing global corporate speculative-grade bond default rate increased further to 1.19% in November from 1.02% in October. This has been below its long-term (1981-2005) average of 4.61% for 34 consecutive months. By region, speculative-grade default rates were recorded at 1.33% in the U.S., 2.12% in Europe, and 0.59% in the emerging markets. As of Dec. 11, 2006, 26 weakest links remained vulnerable to default on combined rated debt worth US$10.7 billion, the highest in 24 months. This number has been...

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
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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- Fedders Corp.
- Viskase Cos. Inc.
- Exide Technologies
- Victor Technologies Group Inc.
- Wolverine Tube Inc.
- ICON Health & Fitness Inc.
- Tembec Inc.
- Remy International Inc.
- Tekni-Plex Inc.
- Primus Telecommunications Group Inc.
- Duane Reade Inc.
- InSight Health Services Corp.
- Progressive Gaming International Corp.
- Interep National Radio Sales Inc.
- Luxfer Holdings PLC
- Motor Coach Industries International Inc.
- Ziff Davis Media Inc.
- Port Townsend Paper Corp.
- Resorts International Hotel and Casino Inc.
- Calpine Construction Finance Co. L.P.
- Merisant Worldwide Inc.
- Sunny Delight Beverages Co.
- Lake at Las Vegas Joint Venture
- LLV-1, LLC
- National Coal Corp.

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