The high yield default rate holds steady at 2.2% in June, reports Fitch, with the rate of...

|By:, SA News Editor

The high yield default rate holds steady at 2.2% in June, reports Fitch, with the rate of defaults in 2012 H1 matching 2011 H2, but sharply higher than 2011 H1. The weighted average recovery rate in 2012 H1 was 57.8% of par, well higher than the 35.9% seen over the last 12 years. Fitch expects the full-year default rate to end at 2.5-3%. (full report, .pdf)