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

  • Data Report
    15 Jul 2022|Moody's Investors Service
    Four Moody’s-rated corporate issuers defaulted in June, down from nine in May. Despite the drop in the default count, the trailing 12-month global speculative-grade default rate held steady at 2.1%.

    12 Jul 2022|Moody's Investors Service
    Moody's US Credit Compass, our new proprietary indicator, projects that deteriorating consumer and business sentiment and tightening liquidity will weaken third-quarter credit conditions but that conditions will remain within long-term averages.

    Sector Comment
    23 Jun 2022|Moody's Investors Service
    The COVID-19 pandemic and Russia's invasion of Ukraine demonstrate that when tail risks do crystallize, they can have a large effect on credit conditions, and hence on ratings.

    Data Report
    16 Jun 2022|Moody's Investors Service
    Nine Moody's-rated corporate debt issuers defaulted in May, up from five in April. We project that the trailing 12-month global speculative-grade corporate default rate will rise to 3.3% in a year’s time, up from 2.1% in May.

    Sector In-Depth
    14 Apr 2022|Moody's Investors Service
    We expect an increase in sovereign debt defaults in 2022 amid heightened geopolitical risks, following only one default of a Moody’s-rated sovereign in 2021. Although government debt burdens in advanced economies and emerging markets stabilized last year, the ripple effects of the Russia-Ukraine military conflict are spreading at a time when most sovereigns are still dealing with economic and fiscal scarring from the pandemic.

    23 Mar 2022|Moody's Investors Service
    Rating actions reflect shifting economic and business conditions for sovereigns, corporates, financial institutions and other debt issuers.

    KEY CONTACTS
    Kumar Kanthan
    Senior Vice President
    [email protected]
    Sharon Ou
    Vice President - Senior Credit Officer
    [email protected]
    Jen Tennant
    VP-Senior Analyst
    [email protected]
    Yang Liu
    AVP-Analyst
    [email protected]
    Xiaoshuai Luo
    AVP-Analyst
    [email protected]