May 2016 – Moody’s and S&P are expecting year-end default rates to continue to climb from current levels. According to Moody’s, defaults during 2016 will likely continue to be concentrated in a select number of industries, led by Metals & Mining and Oil & Gas, and is forecasted to…
February 2016 – Moody’s default rate finished 2015 at 3.2%, while the S&P default rate rose to 2.8%, its highest level since 2013. According to Moody’s, defaults in 2016 will likely be concentrated in a select number of…
November 2015 – Moody’s default rate finished the third quarter at 2.1%, while the S&P default rate rose to 2.5%, its highest level since 2013. According to Moody’s, increasing liquidity…
August 2015 – In this edition, we provide our perspectives on the restructuring market during the second quarter of 2015 which include: Moody’s default rate finished the second quarter at 1.9%, while the S&P default rate rose to 2.1%, the highest rate since December 2013 when…
May 2015 – In this edition, we provide our perspectives on the restructuring market during the first quarter of 2015. During the first quarter, the big news for loan defaults was Caesars’ long-anticipated bankruptcy filing. According to Moody’s and S&P, default rates finished the first quarter at…
February 2015 – Continuing a trend seen over the past few years, and unlike the bankruptcy cycles of (1) 2000-2003 and (2) 2008-2009, which were clearly dominated by certain sectors (telecom/technology and financial services, respectively), 2014’s Chapter 11 activity covered a wide range of industries including…
November 2014 – In this edition, we provide our third quarter 2014 perspectives on the restructuring market. Default rates reported by Moody’s and S&P held relatively steady during the Third Quarter 2014, remaining low at 1.7% and 1.6%, respectively. With some indications of strengthening economic conditions, few corporate defaults are…
September 2014 – In this edition, we provide our second quarter 2014 perspectives on the restructuring market. According to Moody’s and S&P, default rates held relatively steady during the Second Quarter 2014, at 1.9% and 1.6%, respectively. EFH’s bankruptcy was already heavily expected, and hence has been excluded from…
May 2014 – Compared to the prior quarter, default rates during the First Quarter 2014 fell across all three ratings agencies to the 1.4% (Fitch) to 1.7% (Moody’s) range. Looking ahead, default rates are expected to remain relatively steady over the next 12 months, absent a significant market event based on main factors: (1) short watch lists, (2) scarce near-term…
March 2014 – As hungry investors continued to chase yield, the leveraged loan market set a record during 2013 with a 30% increase over 2012’s volume and surpassing 2007’s prior record volumes. The amount of loans due prior to 2016 stands at just $17 billion, versus…