NEW YORK (S&P Global Ratings) June 19, 2020--The 2020 global corporate default tally has reached 109 after eight issuers defaulted since our last report, said an article published today, titled "Energy-Sector Stress Boosts The 2020 Corporate Default Tally To 109."
With three defaults this week, the oil and gas sector now leads the default tally with 18, compared with the 2019 year-end total of 20. Of these, the U.S. leads with 12, followed by Europe and the emerging markets, with three each.
"The pace of defaults has risen considerably as many firms, particularly at the low end of the ratings spectrum, struggle to refinance debt given substantive weakness in revenues due to COVID-19 and the subsequent weak economic environment," said Sudeep Kesh, head of S&P Global Credit Market Services.
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|Credit Markets Research:||Nicole Serino, New York + 1 (212) 438 1396;|
|Sudeep K Kesh, New York (1) 212-438-7982;|
|Media Contact:||Jeff Sexton, New York (1) 212-438-3448;|
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