กรุงเทพฯ--7 ต.ค.--Standard & Poor's
Three U.S.-based issuers defaulted this week, raising the 2011 global corporate default tally to 32, said an article published today by Standard & Poor's Global Fixed Income Research, titled "Global Corporate Default Update (Sept. 29 - Oct. 5, 2011)."
One of these defaulters, Real Mex Restaurants Inc., defaulted for the second time this year--the first time in July after failing to make an interest payment and the second time this week after filing for Chapter 11 bankruptcy protection. Of the total defaulters this year, 23 are based in the U.S., three are based in New Zealand, two are in Canada, and one each is in the Czech Republic, France, Israel, and Russia.
Of the defaulters by this time in 2010, 49 were U.S.-based issuers, nine were from the other developed region (Australia, Canada, Japan, and New Zealand), seven were from the emerging markets, and two were European issuers.
Thirteen of this year's defaults were due to missed interest or principal payments and seven were due to distressed exchanges--both of which were among the top reasons for defaults in 2010. Bankruptcy filings followed with six defaults, and regulatory actions accounted for three. Of the remaining defaults, one issuer had its banking license revoked by its country's central bank, another was appointed a receiver, and the third was confidential.
By comparison, in 2010, 28 defaults resulted from missed interest or principal payments, 25 from Chapter 11 and foreign bankruptcy filings, 23 from distressed exchanges, three from receiverships, one from a regulatory directive, and one from administration.
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