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S&P Credit Research656 word report
published Nov 06, 2009
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S&P Credit Research
| Abstract: | One global corporate issuer defaulted this week, bringing the 2009 year-to-date tally to 239 issuers--roughly triple the 82 defaults at this time in 2008. This week's defaulter was based in Europe, bringing the default tallies by region to 175 issuers in the U.S., 16 in Europe, 34 in the emerging markets, and 14 in the other developed region (Australia, Canada, Japan, and New Zealand). This week's default was a result of a distressed exchange, which ups the tally of defaults related to distressed exchanges to 85--the most cited reason for default this year. Despite unprecedented turbulence in the credit markets and record-high default volume since 2008, the ability of corporate credit ratings to serve as an effective measure of relative
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| Brief Excerpt: | You are not entitled to view this Article. For technical support, please contact your help desk. Published by Standard & Poor's Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. Executive and Editorial offices:...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
