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July 3, 2016 | 12:45 | Dubai
The global corporate default tally increased to 91 issuers so far in 2016 (through June 29) with the addition of one confidential defaulter since the last report as per S&P Global Fixed Income Research. “The last time the global tally was higher by this point in the year was in 2009, when it was reached 170 during the financial crisis,” said Diane Vazza, MD of S&P Global Fixed Income Research.
Geographically, 60 of the 2016 year-to-date defaults were based in U.S., 16 in the emerging markets, nine in other developed nations (Australia, Canada, Japan, and New Zealand), and six in Europe. In 2015, 54 issuers defaulted during this period; 32 of which were based in the U.S., 13 from emerging markets, seven from Europe, and two in the other developed countries.
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