Prospect News reports three new defaults for Jan. 9-Jan. 15, S&P zero

By Caroline Salls

Pittsburgh, Jan. 17 - Prospect News reported three new defaults for the period from Jan. 9 through Jan. 15.

The latest defaults included Edgenet, Inc.'s Chapter 11 bankruptcy filing, Opera Finance (CMH) plc's missed interest payment on its class A notes and Codere SA (Codere Finance Luxembourg SA)'s missed interest payment on its euro bond maturing in 2015.

Prospect News has reported four defaults so far for 2014, including three missed interest payments and one Chapter 11 bankruptcy filing.

Standard & Poor's said its 2014 year-to-date default count still stands at zero.

S&P's global corporate default tally stood at 78 issuers at the end of 2013, lower than both the previous year's tally of 84 defaults and the 10-year average of 101.

The ratings agency said the 78 defaulters in 2013 translate to an estimated global speculative-grade corporate default rate of 2.3%.

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