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Corporate Defaults are rising

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posted on May, 2 2009 @ 01:59 PM
should peak at record high by March 2010

Ten global corporate issuers defaulted this week, bringing April's tally of global corporate defaults to 40 issuers and the 2009 year-to-date tally to 102 issuers, said an article published today by Standard&Poor's. By comparison, the total in April is the highest monthly tally since March 2002 (when 47 issuers defaulted) and the second highest since our series began in 1981. The high in March 2002 was reached three months prior to the default cycle's eventual default rate peak of 11.9%. In the current default cycle, we expect defaults to continue into 2010, leading to an expected all-time high of 14.3% by March 2010

this is not good news

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