Global Corporate Default Total Reaches 12 In 2009, With Four New Defaults This Week, Article Says - 2009/01/23 - S&P Credit Research

Report title: Global Corporate Default Total Reaches 12 In 2009, With Four New Defaults This Week, Article Says

from S&P Credit Research
540 word report published Jan 23, 2009

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Abstract:

NEW YORK (Standard&Poor's) Jan. 23, 2009--Four more issuers defaulted this week, all based in the U.S., bringing the tally of global corporate defaults to 12 so far this year, said an article published today by Standard&Poor's. Of the four most recent defaults, two are media and entertainment companies, Nevada-based gaming company Black Gaming LLC and television broadcaster Young Broadcasting Inc. The remaining two are consumer products companies, tomato producer and marketer EuroFresh Inc. and mattress manufacturer Simmons Co. Both of these sectors have exhibited a relatively extreme level of distress for several months, with 93.7% of speculative-grade-rated media and entertainment companies and 78.4% of speculative-grade-rated consumer products companies trading at or above 1,000 basis points over

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RESEARCH Ratings Definitions Global Corporate Default Total Reaches 12 In 2009, With Four New Defaults This Week, Article Says Publication date: 23-Jan-2009 Global Fixed Income Research: Diane Vazza, Managing Director, New York (1)...

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Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Corporations, Financial Institutions, Global Issuers, Insurance, International Public Finance, Public Finance, Real Estate Companies, Residential MBS, Servicer Evaluations, Sovereigns, Structured Finance, Utilities

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