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The ratings agency reports that the MPL industry might reckon with a potential spike in defaults as borrowers are rolled out of two- and three-month COVID-19 hardship programs.
September 9
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In the U.S., the 12-month trailing default rate fell to 3.4% in June from 4% in March, while in Europe it declined to 2.2% from 2.8% over the quarter. Globally, defaults stood at 2.9%, down from 3.4% in the first quarter.
July 11
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Nearly four in five expect spreads to widen this summer, which is not good news for spec-grade U.S. companies that binged on borrowing levels over the last two years.
April 19
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The number of junk-rated companies downgraded fell to 19 in July, comparedwith an average of 30 for the trailing 12 months. The upgrade count also fell 10, down from 19 in June.
August 24
