Credit Managers Most Pessimistic on Defaults Since 2009: Survey
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Debt investors’ outlook for corporate-credit defaults is the most negative in almost seven years on weakening global growth, according to an International Association of Credit Portfolio Managers survey.
The credit default outlook index, in which a negative number indicates an expectation of more defaults over the next 12 months, fell in March to minus 56.2 -- the lowest reading since June 2009 -- from minus 54.8 in December, according to the IACPM quarterly review released Thursday. Investors have economic concerns in every global region and across market segments including corporate, commercial real estate, and consumer and retail mortgage debt.