Junk defaults fall for first time in two years

11 Jan 2010

The global speculative grade default rate dropped for the first time in 23 months at the end of 2009, falling from 12.9% in November to 12.5% in December, according to Moody’s.

The US default rate dropped from a high of 18.9% in November to 15.6% by the end of the year. The European default rate also peaked in November, at 10.5%.

Moody’s expects the global default rate to continue dropping sharply until it reaches 3.3% by the end of the ...

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