Corporate defaults trebled already, says S&P

Over three times as many corporate defaults have been recorded globally since the beginning of 2009 compared to the same period last year, rating agency Standard & Poor’s said in a report which confirmed predictions that default rates were set to skyrocket.

  • 23 Feb 2009

S&P counted 32 defaults globally so far this year.

More than half of the issuers were expected to have modest (10-30%) or negligible (0-10%) recovery rates.

“The precipitous increase in defaults reflects a pronounced decline in economic fundamentals and earnings prospects, as well as the continued credit freeze, effectively ...

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4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

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