Newsletter Feb 2006: Global corporate defaults near record low in 2005

NEW YORK – Global corporate default rate for investment-grade and speculative-grade entities remained near all-time “lows” in 2005, according to the Standard and Poor’s (S&P) credit rating agency. A total of 37 corporate defaults were recorded globally, which is the lowest number since 1997, and not far above the low levels of the mid-1990s. Corporate defaults have been falling steadily since the peak 229 in 2001 (51 in 2004), according to a report published by S&P in early February.*