There have been 91 corporate defaults so far in 2016, the most at this point in a year since 2009 – when there were a whopping 170 defaults – according to S&P Global Fixed Income Research.
The first-half 2016 tally is up from 54 in the first half of last year.
Of the 91 defaults, 60 were based in the U.S., with 16 from emerging markets, S&P says. Thirty-five of the issuers defaulted due to missed interest payments while 24 defaulted because of distressed exchanges.
The full analysis is available to subscribers here, via S&P’s Global Credit Portal. It was written by Diane Vazza and Sudeep Kesh.