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Capital Restructuring | Third Quarter 2018

November 2018 – Moody’s and S&P reported speculative-grade default rates of 3.1% and 2.7%, respectively, in Third Quarter 2018. Moody’s forecasts that the default rate will fall slightly by year-end, with defaults expected to be highest in the media and retail sectors. Per S&P/LSTA, the default rate has gradually increased from an 18-month low of 1.4% at the end of July 2017, but it remains inside the 3.1% historical average. Market consensus is calling for the default rate to hit 2.3% in the 12 months ending September 2019.

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November 15, 2018