Only 16 MoodyÆs-rated issuers defaulted in 2007, compared to 31 in 2006.
ôWe believe December 2007 likely marks the low point of the current default rate cycle as several issuers have missed interest payments in recent weeks, says MoodyÆs director of corporate default research, Kenneth Emery. ôThis should translate into upward pressure on default rates as the 30-day grace periods on these issuersÆ bonds expire and they become actual defaultersö.
The figures reflect the time-lag...
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