| Abstract: | Three global corporate issuers defaulted this week, bringing the 2009 year-to-date tally to 238 issuers--roughly triple the 79 defaults at this time in 2008. All of this week's defaults are based in the U.S., bringing the default tallies by region to 175 issuers in the U.S., 15 in Europe, 34 in the emerging markets, and 14 in the other developed region (Australia, Canada, Japan, and New Zealand). Two of the three defaulters this week filed for Chapter 11, and one missed its interest payment. In 2009 year-to-date, there have been 84 defaults resulting from distressed exchanges, the most cited reason this year, followed by missed interest payments and Chapter 11. Despite unprecedented turbulence in the credit markets and record-high default
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