Capital Restructuring | Third Quarter 2019

November 2019 – At the end of Third Quarter 2019, Moody’s and S&P reported default rates of 3.2% and 2.8%, respectively. While forecasts are that heightened levels of defaults are unlikely to occur in the next 12 months, defaults could challenge the last cycle peak if conditions deteriorate quickly, largely due to the record volume of single-B rated debt.