Nowhere But Up For European Defaults

Iyer, Savita
February 2005
Investment Dealers' Digest;2/28/2005, Vol. 71 Issue 8, p7
Trade Publication
The article presents information on the European junk market. Daragh Murphy, associate director in Fitch Ratings' London-based leverage finance group, said that even though the short-term outlook is benign, it would not take many defaults for the rate to go up. The list of stressed companies in Europe is growing and the longer it gets, the greater the likelihood for some defaults to happen. The increased participation of nontraditional investors and U.S. players has been a significant driver of the increase in liquidity in European high yield.


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