LatAm Defaults Down In 2010

LatAm Defaults Down In 2010

Corporate & Sovereign Strategy

Default rates in LatAm have decreased sharply compared to 2009, and are expected to continue to drop, says Moody’s in a report. While in 2009 there were 21 defaults totaling $4.4bn, so far this year there have been just 2 defaults, for a value of $1.2bn. The default rate in 2009 was the highest since 2002, peaking at 10.6% on speculative-grade debt, lower than the global rate of close to 13.5% in H2. Moody's default rate forecasting model predicts that 1-year LatAm and global speculative default

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