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S&P: Speculative-Grade Default Rates Hit 6-Year High

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S&P: Speculative-Grade Default Rates Hit 6-Year High

high yield default rate

The U.S. speculative-grade default rate has hit a six-year high of 4.79%, while the global default rate has crept to 4.04%, also a six-year high, according to S&P Global Fixed Income Research.

Of course, the long-troubled energy sector plays a major role here. Excluding energy and natural gas companies, the U.S. default rate drops to 2.44%.

Looking ahead, S&P says the number of ‘Weakest Links’ – issuers rated B- or lower, with either a negative outlook or implication – grew to 249 as of Sept. 20, the second-highest total since 2009.

The full analysis is available to S&P Global Credit Portal subscribers. It was written by Diane Vazza, Sudeep Kesh, Gregg Moskowitz, and Nicole Serino.

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