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Default, Transition, and Recovery: Missed Payments Dominated Global Corporate Defaults In 2011 Jan 12 Product Image

Default, Transition, and Recovery: Missed Payments Dominated Global Corporate Defaults In 2011 Jan 12

  • Published: January 2012
  • Region: Global
  • Standard & Poors

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Abstract
Global corporate defaults totaled 53 in 2011, roughly two-thirds of the default total in 2010. On a regional basis, 39 defaults were based in the U.S. (see the "Details On The Default Count" section for more information), followed by the other developed region (Australia, Canada, Japan, and New Zealand) with seven defaults, Europe with four, and the emerging markets with three. Default counts declined in 2011 across all regions but Europe, where defaults doubled compared with 2010. However, the total in Europe is still only a quarter of the 20 defaults in the region in 2009. Missed interest and/or principal payments were the primary reason for default in 2011, with 21 issuers defaulting for this reason. Bankruptcy-related filings followed with...

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 READ MORE >

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