Corporate Default Rate Nearing Cyclical Peak: Moody's

With large corporations witnessing a declining number of bankruptcies, Moody’s Investor Services believes the U.S. high yield default rate won’t rise beyond 6% in the year ahead. Benjamin S. Garber highlights in his November 11 research piece titled “Corporate Shakeout Has Default Rate Pointing Lower” that the improved default outlook is aided by the perception of brighter prospects for the oil sector. Also see Canyon Loads Up On Billions in debt … Future corporate default counts set to decline further Garber notes that the U.S. high yield default rate touched six-year high of 5.7% in  August thanks to the freefall in raw…