TITLE

No Significant Growth in Default Risk Since 1999, Fitch Update Says

AUTHOR(S)
Briggs, Amanda
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/23/2003, Vol. 344 Issue 31662, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article informs that Fitch Ratings Inc. will release an updated version of its September 1999 study of municipal defaults. The latest report, which now includes data through October 2002, reveals few meaningful changes in overall default risk. Although overall credit quality declined, default rates in low-risk municipal sectors have yet to increase significantly. When compared to data in the original study, the updated cumulative default rates for bonds issued from 1979 to 1986 rose to 1.50% from 1.49% as they reached maturity, while the rate for bonds issued from 1987 to 1994 rose to 0.63% from 0.49%.
ACCESSION #
10125609

 

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