Moody's speculative-grade default rate inches up to 2.4% in April

By Caroline Salls

Pittsburgh, May 8 - Moody's Investors Service's trailing 12-month global speculative-grade default rate came in at 2.4% in April, up from 2.3% in March, according to a news release.

The agency said the latest reading was very close to its prediction of 2.5% made a year ago.

Moody's said its default rate forecasting model now predicts that the default rate will end 2014 at 2.3%. If realized, the rate will be well below the historical average of 4.7%.

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