S&P Global trims back default forecasts
Reuters
Published Dec 03, 2020 09:42AM ET
LONDON (Reuters) - Credit rating agency S&P Global (NYSE:SPGI) trimmed its forecasts on Thursday on how many U.S. and European firms were likely to default in the coming 10 months as the coronavirus fallout continues.
The firm said it now expected the 12-month trailing corporate default rate to rise to around 9% in the United States and 8% in Europe by September 2021.
In October it had predicted U.S. rates would rise to 12.5%, albeit for a slightly different time frame of the following nine months, while Europe's rate would climb to 8.5%.
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Written By: Reuters
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