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S&P: Estimated U.S. junk default rate holds steady at 2.8% in August
By Caroline Salls
Pittsburgh, Sept. 4 - Standard & Poor's estimates that the 12-month-trailing U.S. speculative-grade corporate default rate was 2.8% in August, unchanged from July, according to a report released Tuesday.
In comparison, the rate was 2.7% in June and 2.6% in May and April.
S&P said two entities defaulted in August, bringing the total number of defaults for the year to 30, including entities that were not rated at the time of default and entities rated confidentially.
Specifically, S&P said ATP Oil and Gas Corp. and LifeCare Holdings Inc. defaulted in August.
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