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
    08 Nov 2019|Moody's Investors Service
    Defaults higher than same period last year, led by Oil & Gas and Business Services. Seven corporate issuers defaulted in October, bringing the total so far this year to 72, exceeding the 65 defaults in the same period last year. Three of the October defaults came from the Business Services sector.

    SECTOR IN-DEPTH
    31 Oct 2019|Moody's Investors Service
    The number of US corporates that defaulted in the latest three months ending on September 30th declined 31% to 11 from the second quarter, with energy companies once again  dominating activity.

    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