Fitch Ratings recently published a new study offering a detailed look at U.S. corporate recovery rates in 2009. While the weighted average recovery rate on the year’s bond defaults was 34.1 percent of par and the median 24.9 percent, recovery rates exhibited strong variability by industry, instrument seniority and source of default. Recovery rates also fluctuated over the course of the year showing substantial improvement in the second half as market conditions improved and the pace of defaults slowed.
The report can be accessed by clicking on the following link.
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=498848
Gregg D. Killoren
victoria1014
