Default Trends and Rating Transitions
This page provides a central resource for Moody’s research on default risks, impairment and loss rates, rating transitions and performance, and liquidity studies.
  • SUMMARY
  • REPORTS

  • SECTOR IN-DEPTH
    27 Jan 2020|Moody's Investors Service
     The number of defaults for 2019 shot up 69% to 71, compared to 42 for 2018, mainly fueled by oil & gas defaulters. In tandem with this rise, the spec-grade default rate rose to a 2019 high.

    DATA REPORT
    10 Jan 2019|Moody's Investors Service
    Fifteen corporate issuers that we rate defaulted in December, the highest global monthly count since May 2016, when the commodity price downturn resulted in a significant number of defaults. There were 101 corporate defaults in 2019, marking a 28% increase over the 2018 tally of 79.

    DATA REPORT
    26 Nov 2019|Moody's Investors Service
    The default rate for financial and nonfinancial companies in Latin America and the Caribbean remains low as a result of benign market conditions and strong operating performance. However, domestic challenges including elevated policy uncertainties and moderating growth for the region's main trading partners will weigh on credit conditions.

    SECTOR IN-DEPTH
    23 Oct 2019|Moody's Investors Service
    Over the past 20 years, 659 Moody's-rated nonfinancial companies globally have fallen to speculative-grade ratings from investment grade (“fallen angels”). Nearly half of these downgrades occurred during periods of high industry stress. About half of the companies still have speculative-grade ratings, while one-quarter have returned to investment grade.

    DATA REPORT
    14 Oct 2019|Moody's Investors Service
    We examine how economic recessions and credit cycles since 1983 have affected the rating transitions of global nonfinancial and financial companies.

    KEY CONTACTS
    Kumar Kanthan
    Senior Vice President
    Kumar.kanthan@moodys.com
    Sharon Ou
    Vice President - Senior Credit Officer
    Sharon.ou@moodys.com​
    Varun Agarwal
    Vice President - Senior Analyst
    Varun.Agarwal@moodys.com