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Published on 10/1/2014 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily, Prospect News Distressed Debt Daily and Prospect News High Yield Daily.

S&P U.S. junk default rate inches up to estimated 1.6% in September

By Caroline Salls

Pittsburgh, Oct. 1 – Standard & Poor’s estimated that the U.S. trailing-12-month speculative-grade corporate default rate increased marginally to 1.6% in September from 1.5% in August, according to a report released Wednesday.

S&P said it expects the rate to increase to 2.7% by June 2015.

The ratings agency said that three defaults were recorded in September, including defaults by Waterford Gaming LLC, American Media Inc. and Endeavour International Corp.


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