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Moody's reports drop in default rate for high-yield debt
Moody's Investors Service says the global default rate for high-yield bonds reached 2.6% in the fourth quarter, declining 0.6 percentage point from Q3. The rate was lower than the historical average of 4.8% dating to 1983. Moody's says the rate likely will hit 3.3% in Europe and 3% in the U.S. this year.
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