S&P: March U.S. estimated junk default rate 'fairly steady' at 2.38%

By Caroline Salls

Pittsburgh, April 4 - Standard & Poor's said the estimated 12-month-trailing speculative-grade corporate default rate in the United States was essentially flat in March at 2.38%, compared with 2.42% in February and 2.43% in January, according to a report titled "The U.S. Corporate Default Rate Holds Fairly Steady In March At An Estimated 2.38%."

S&P said that one entity defaulted in March, which brings the total number of defaults for the year to 14.

The ratings agency said the only entity that defaulted in March was U.S.-based directory publisher and marketing servicer Dex One Corp., which was downgraded to SD on March 23 after the company completed a repurchase of term debt below par value.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.