Prospect News reports two new defaults for Jan. 23-Jan. 29, S&P zero

By Caroline Salls

Pittsburgh, Jan. 31 - Prospect News reported two new defaults for the period from Jan. 23 through Jan. 29.

The latest defaults included Hamilton Proper Partners Golf Partnership, LP (The Hawthorns Golf & Country Club)'s and Free Lance-Star Publishing Co.'s Chapter 11 bankruptcy filings.

Prospect News has reported eight defaults so far for 2014, including five Chapter 11 bankruptcy filings and three missed interest payments.

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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