Project finance risks almost as good in EM as OECD
The gap between default rates for OECD and emerging market project finance bank loans has narrowed to almost nothing. However, on average, banks can expect to wait longer after a default to recover money owed outside the world’s most developed economies, according to S&P Global.
The rating agency has analysed all 7,064 unrated project finance bank loans extended between 1995 and 2016 — equal to around two-thirds of the global project finance loans market.Of the loans analysed, there is a cumulative default rate of 6.3%, though this falls in certain segments. Core infrastructure sectors ...
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