Defaults in speculative-grade (junk) debt rose sharply in June, hitting 9.2% from 8.1% in May,...

|By:, SA News Editor

Defaults in speculative-grade (junk) debt rose sharply in June, hitting 9.2% from 8.1% in May, S&P says. Firm sees defaults hitting 14.3% by May of next year, and warns the rate could climb as high as 18.5% if the economy continues to deteriorate.