Moody's junk default rate at 2.4% for February, lower than predicted

By Kali Hays

New York, March 10 - Moody's Investors Service said its 12-month global speculative-grade default rate came in at 2.4% in February, according to a news release from the agency.

The number shows a slight decline from the default rate in January, which was 2.6%, but was near the 2.7% prediction from a year ago.

The agency now predicts the default rate to end 2014 at 2.1%, well below the historical average of 4.7%.

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