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S&P: U.S. junk default rate increased to estimated 2.5% in September
By Caroline Salls
Pittsburgh, Oct. 1 – Standard & Poor’s estimated that the U.S. trailing-12-month speculative-grade default rate grew to 2.5% in September, marking the highest rate since 2013, according to a report released Thursday.
S&P said it expects the U.S. corporate trailing-12-month speculative-grade default to rise to 2.9% by June 30, 2016.
According to the report, Goodrich Petroleum, Quiksilver Inc. and Floworks International LLC defaulted in September.
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