High rate of default on corporate debt might hold steady

07/16/2009 | Bloomberg Businessweek

The default rate on corporate debt is 11%, up from 2.4% a year ago, and could top out at 12.8% by the end of the year, according to Moody's Investors Service. Economists fear that the default rate could remain high for several years. "We're going to see peaks like a mountain range," said Louise Purtle, a senior analyst at CreditSights.

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