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S&P estimates 3.1% U.S. default rate for April, 2.1% European rate
By Caroline Salls
Pittsburgh, May 1 – Standard & Poor’s estimates that the U.S. trailing-12-month speculative-grade corporate default rate decreased to 3.1% in April from 3.4% in March, according to a report released Tuesday.
S&P said it expects the U.S. trailing-12-month speculative-grade corporate default rate to decrease to 2.6% by December 2018 from 3% in December 2017.
Meanwhile, S&P said it estimates that the European trailing-12-month speculative-grade corporate default rate remained unchanged for the second consecutive month at 2.1% in April.
The ratings agency said it expects the 12-month default rate for speculative-grade-rated European financial and nonfinancial corporate issuers to rise to about 2.5% by the end of 2018, continuing the gradual upward trend of the past few years.
There were four defaults in the United States and no defaults from Europe in April, S&P said.
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