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

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

  • Published: December 2006
  • Region: Global
  • Standard & Poors

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  • Duane Reade Inc.
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Abstract
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 READ MORE >

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