S&P Credit Research



Title:

Default, Transition, and Recovery: Global Bond Markets? Weakest Links And Monthly Default Rates

Price:$500.00
Publication Date:Jul 21, 2008
Report Type:Commentary
Abstract:Highlights from this month's report are: Through July 14, 2008, 42 companies have defaulted, affecting debt worth $33.6 billion. This already surpassed the 22 defaults recorded in all of 2007 and 30 defaults in 2006. Of the 42 defaults, 41 are domiciled in the U.S., and one is from Canada. The U.S. also leads in the number of weakest links—entities that are closest to the default threshold—with 118 (81%) of the 145 entities. Through the first half of 2008, defaults have increased significantly in the U.S. but remain scarce elsewhere. The 12-month trailing global corporate speculative-grade bond default rate declined marginally to 1.44% in June from 1.45% in May, remaining below its long-term (1981-2007) average of 4.35% for 53 consecutive
Brief Excerpt:RESEARCH Ratings Definitions Default, Transition, and Recovery: Global Bond MarketsaÇÖ Weakest Links And Monthly Default Rates Publication date: ##-Jul-#### Global Fixed Income Research: Diane Vazza, Managing Director, New York (#)...
Word Count:1294
Sector:Global Issuers, Structured Finance, Public Finance, Financial Institutions, Insurance, Sovereigns, Corporations, International Public Finance, Utilities, Servicer Evaluations, Asset-Backed Securities, Collateralized Debt Obligations, Real Estate Companies, Asset-Backed Commercial Paper, Commercial MBS, Residential MBS, Consumer Products, Media & Entertainment, Transportation
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S&P Credit Research

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.

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