Default rate edges up
In what may signal a turning point for future corporate defaults, Moody’s Investors Service global speculative-grade default rate edged up to 2.5% in February from 2.3% in January. Moody’s default forecasting model indicates that the default rate is set to gradually increase over the first half of 2005, break higher in the last six months, and reach a 3.2% level by the end of February 2006.
David Hamilton, Moody’s head of default research, says, “For several months now, Moody’s has been
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