Global defaults reached a four-year high in April, according to a report by S&P Global Ratings. It increased to 18, bringing the year’s total to 55. We reviewed the data with Nicole Serino, a credit research director at S&P Global Ratings.
Consumer products, media, and entertainment had the largest number of defaults. She explained that the United States, as expected, had the most defaults, but Europe’s defaults are the ones attracting the most attention. Ms. Serino said their defaults are at the highest level since 2008. Ms. Serino also shares a silver lining from the data.