S&P : 2013 Annual Global Corporate Default Study And Rating Transitions

Despite market turmoil during the summer–mainly because of announcements from the Federal Reserve that it was considering beginning to taper its bond purchases–corporate borrowers ultimately had a relatively stable 2013. In the full year, 81 global corporate issuers defaulted, relatively unchanged from 83 in 2012 (see table 1). These 81 defaulted issuers accounted for a total of $97.3 billion in debt, up from $86.7 billion in 2012.

Overall, credit quality and stability increased in 2013 (see table 6). The ratio of downgrades to upgrades decreased relative to 2012, though the average number of notches recorded among downgrades rose marginally to 1.385 from 1.375. The average number of notches for upgrades fell to 1.14 from 1.16 (see chart 13).

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About AIWMI

The Association of International Wealth Management of India (AIWMI) is a not-for-profit organization and a globally recognized membership association for finance professionals. AIWMI primarily focuses on the broad and strategic role of developing a more robust and forward-looking training infrastructure for the financial services sector and to promote more active industry involvement and collaboration in training and continuing education. AIWMI is offering advanced international certification programs along with a wide variety of high-quality executive education programs. AIWMI programs combine state-of-the-art knowledge and skills with practical experience and insights into the functioning of the financial sector. All AIWMI courses and educational events have an intense and pragmatic curriculum. Participants are exposed to the latest developments within the financial services sector. AIWMI plays a key role in guiding the development of the financial services sector. AIWMI works with key industry participants’ viz. the Government, the Regulators, the Industries/Associations, the Corporate, the Media and the General Public to achieve its objectives. Besides enhancing technical competence and professionalism in the industry, AIWMI organizes events and facilitates discussions to promote best practices in leadership and talent development in the financial sector with an aim to become Asia’s premier center of excellence for financial education.

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