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S&P estimates U.S. corporate junk default rate down to 3.8% in April
By Caroline Salls
Pittsburgh, May 1 – Standard & Poor’s estimates that its U.S. trailing-12-month speculative-grade corporate default rate declined to 3.8% in April from 4.1% in March, according to a report released Monday.
Of the six April defaults, S&P said two were from the energy and natural resources sector, which had an estimated speculative-grade default rate of 20.8%.
Excluding the energy and natural resources sector, the agency said its speculative-grade default rate estimate dipped to 1.8% in April from 1.9% in March.
S&P expects the U.S. corporate trailing-12-month speculative-grade default rate to fall to 3.9% by December 2017 from 5.1% in December 2016.
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