Administration January 12, 2002

S&P: Defaulted Corporate Debt Doubles

December 13, 2001 (PLANSPONSOR.com) - The $107 billion in defaulted corporate debt racked up through December 7, 2001 was more than double that for all of 2000, according to Standard and Poor's.
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S&P said the 2001 debt from 196 issuers compared to $42.3 billion from 117 issuers during 2000.  Finalized figures are expected to be available by early 2002.

Default totals through December 7 include:

  • United States – 156
  • Argentina – 11
  • Canada – 9
  • United Kingdom- 5
  • Australia – 3

There was one default in Bermuda, Germany, Greece, Indonesia, Korea, Mexico, the Netherlands, Norway, the Philippines, Poland, Russia, and Thailand.

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