The malaise in the U.S. bond market continues to go global, with the number ofoverseas defaulting bond issuers rising again in 2001 largely at the hands ofthe floundering telecommunications sector.

According to Standard & Poor's, 121 ratedglobal bond issuers have defaulted in 2001 on bonds totaling $74.3 billion,already exceeding 2000′s full-year number of 108 issuers with a total of $34.3billion in bonds. The rating agency said that 19% of the companies thatdefaulted were in the telecom sector and accounted for 41% of the volume. Forestproducts represented 9% of the companies and 10% of the volume. The ratingagency also reported that 76% of the bonds that defaulted in 2001 were issuedbetween 1997 and 1999.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.