Update: corporate default rate review from Moody’s

The global corporate speculative-grade default rate remained unchanged in January from the revised December 2004 figure of 2.3%, according to Moody’s Investors Services. As a percentage of dollar volume, the global corporate speculative-grade default rate fell to 2.2% in January 2005 from a revised rate of 2.5% in December 2004.

In January, four corporate bond issuers defaulted on a total of $879 million of bonds. Two of the four defaulters were domiciled in the US, one in Brazil, and one in Sweden.