Q2 High-Yield Bond Default Rate Highest Since 2009
Share
Q2 High-Yield Bond Default Rate Highest Since 2009
By Edward I. Altman, Professor Emeritus & Brenda J. Kuehne, Research Associate, New York University Stern School of Business
Defaults in the second quarter of 2016 were $35.51 billion, resulting in a quarterly dollar-denominated high-yield bond default rate of 2.14 percent, the highest quarterly default rate since the fourth quarter of 2009 (2.57 percent). For the fourth quarter in a row, the quarterly default rate...
We hope you enjoyed your free content!
To continue, please become a TMA member.
Access the Journal of Corporate Renewal and other content in the Learning Link.
Become part of a global organization of turnaround and restructuring professionals with 52 Chapters and more than 400 events each year.
Build your personal brand and professional network with opportunities to connect, speak, lead, and win awards.
Brenda Kuehne is a research associate in the Credit and Debt Markets Research Program at the Salomon Center of New York University’s Stern School of Business, where she works with Edward I. Altman conducting analyses of high-yield defaults and recoveries, corporate bankruptcies, and distressed debt. She has more than 14 years of fixed income product experience, having previously worked as an analyst in credit and structured derivative products. Kuehne also holds a master’s degree in business education in higher education from New York University.
Edward I. Altman is the Max L. Heine Professor Emeritus of Finance at New York University’s Stern School of Business and director of theCredit and Fixed Income Research Program at the NYU Salomon Center. He is an internationally recognized expert on corporate bankruptcy, high yield bonds, distressed debt, and credit risk analysis, and is an advisor to Paulson & Co., a consultant to FINRA, and a member of the board of the Franklin Series Funds. He was an inaugural inductee into the Turnaround, Restructuring, and Distressed Investing Industry Hall of Fame and is a member of the Fixed Income Analysts Society Hall of Fame.
