The recent trend of elevated corporate defaults continues into 2024 with January seeing 14, the most for the month in more than a decade, S&P Global Ratings Credit Research & Insights said today in a new report, "Highest January For Corporate Defaults Since 2010."
These global corporate defaults were largely driven by the consumer and media and entertainment sectors in the U.S. and Europe.
S&P Global Ratings expects the U.S. speculative-grade corporate default rate could reach 5% by September 2024, while the European corporate speculative-grade default rate could reach 3.75% by September 2024.
This report does not constitute a rating action.
The report is available to RatingsDirect subscribers at www.capitaliq.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by sending an e-mail to [email protected]. Ratings information can also be found on S&P Global Ratings' public website by using the Ratings search box at www.spglobal.com/ratings.