Moody’s Investors Service reported that global defaults are on the rise, with the global speculative-grade default rate increasing to 2.5% in July from a revised level of 2.1% in June. A year ago, the global speculative-grade default rate stood at 1.5%.The U.S. speculative-grade default rate rose to 3% in July from June’s revised level of […]
Default rates forecast to move up sharply this year
2007’s default count of two was relatively low
Two measures will provide more clarity
US$86 billion scheduled to mature between 2008 and 2010
Total authorized amount is $13.3 billion
Forecast calls for sharp 4.6% increase
These aren’t particularly happy days for the world’s key rating agencies, and Canada’s own DBRS Ltd. has certainly been served its own portion of misery. The Toronto-based firm took a blow to its reputation — some say deserved, others say not — over its role in the asset-backed commercial paper fiasco that hit the Canadian […]
Refinancing risk is present in most covered bonds
Impact of U.S. liquidity and credit crisis on the economic outlook remains unclear