New filings propel US energy high yield bond default rate to record 13% – Fitch
Low market trading prices on the bonds portend poor recoveries for unsecured creditors on default NEW YORK – Two oil and gas producer defaults have propelled the energy high-yield default rate to a record 13 per cent, surpassing the 9.7 per cent mark set in 1999, according to Fitch Ratings. Ultra Petroleum Corp. and Midstate
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