United States: US companies in debt default crisis
(Photo: Siphiwe Sibeko)
In 2015, US companies led the world in debt defaults , S&P said.
More US companies have defaulted on their debt last year than issuers from any other country or region, S&P analysts led by Diane Vazza wrote in a December. 24 report.
As of last week, 111 companies worldwide had defaulted on their obligations, the highest tally since 2009 when the the figure hit 242 for the same period. About 60 percent of this year’s global defaults have come from US borrowers, Vazza wrote, up from 55 percent a year ago, when 33 of 60 defaulters were American.
The original article can be found at iol.co.za
Leave a Reply