| Abstract: | The key takeaways from this month's report are: Only one default—U.S.-based Movie Gallery Inc.—was recorded among global corporates rated by Standard&Poor's Ratings Services in September, bringing the total to 15 defaults through the third quarter of 2007. These defaults affected rated debt worth $4.5 billion. The 12-month trailing global corporate speculative-grade bond default rate declined marginally to 0.92% in September from 1.02% in August, sustaining near-record lows. The default rate has been below its long-term (1981-2006) average of 4.48% for 44 consecutive months. By region, the speculative-grade default rates were 1.13% in the U.S., 1.87% in Europe, and 0.18% in emerging markets. Although financial market uncertainty continues, we expect that the U.S. speculative-grade default rate will remain suppressed
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| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Corporations, Financial Institutions, Global Issuers, High Technology, Insurance, International Public Finance, Public Finance, Real Estate Companies, Residential MBS, Retail, Servicer Evaluations, Sovereigns, Structured Finance, Utilities
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