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S&P: U.S. junk default rate climbs slightly to estimated 2.6% in April
By Caroline Salls
Pittsburgh, May 2 - Standard & Poor's said it estimates that the 12-month trailing U.S. speculative-grade corporate default rate rose slightly in April to 2.6% from 2.5% in March and 2.4% in February, according to a report titled "The U.S. Corporate Default Rate Rose Slightly In April To An Estimated 2.6%."
S&P said that three U.S. entities defaulted in April, which brings the total number of defaults for the year to 17, including entities that were not rated at the time of default.
The three entities that defaulted in April were Hawker Beechcraft Inc., Reddy Ice Holdings Inc. and Residential Capital LLC, the report said.
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