Default, Transition, and Recovery: 2009 Annual Global Corporate Default Study And Rating Transitions - S&P Global Ratings’ Credit Research

Default, Transition, and Recovery: 2009 Annual Global Corporate Default Study And Rating Transitions

Default, Transition, and Recovery: 2009 Annual Global Corporate Default Study And Rating Transitions - S&P Global Ratings’ Credit Research
Default, Transition, and Recovery: 2009 Annual Global Corporate Default Study And Rating Transitions
Published Mar 17, 2010
Published Mar 17, 2010
Price US$ 850.00  |  Buy this Report Now

About This Report

  
Abstract:

Last year set many new records in terms of global corporate default and transition performance. There were 264 defaults globally, the highest annual total since our database began in 1981 (see Table 1). The rated debt amount affected by these defaults reached $627.7 billion, also a series high. Distressed exchanges featured prominently as a trigger, accounting for 39% of defaults globally and 55% of total debt affected by defaults. Credit degradation among nondefaulting issuers was widespread and pronounced, especially in the first half of 2009, with the percentage of issuers downgraded during the course of the year reaching 18.34%, the highest rate in 29 years (see Table 6). There were 3.85 downgrades for every upgrade, the worst ratio on record.

  
Report Type:

Commentary

Sector
Global Issuers, Public Finance, Structured Finance
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

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MLA:
S&P Global Ratings’ Credit Research. "Default, Transition, and Recovery: 2009 Annual Global Corporate Default Study And Rating Transitions" Mar 17, 2010. Alacra Store. Feb 27, 2021. <http://www.alacrastore.com/s-and-p-credit-research/Default-Transition-and-Recovery-2009-Annual-Global-Corporate-Default-Study-And-Rating-Transitions-841199>
  
APA:
S&P Global Ratings’ Credit Research. (). Default, Transition, and Recovery: 2009 Annual Global Corporate Default Study And Rating Transitions Mar 17, 2010. New York, NY: Alacra Store. Retrieved Feb 27, 2021 from <http://www.alacrastore.com/s-and-p-credit-research/Default-Transition-and-Recovery-2009-Annual-Global-Corporate-Default-Study-And-Rating-Transitions-841199>
  
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