Default index shows rise in credit quality
The Kamakura index of troubled public companies for January showed improved credit quality for only the second time in the last 18 months. The Kamakura global index of troubled companies decreased by 0.9% to 23.1% of the public company universe. Kamakura defines a troubled company as a company whose short-term default probability is in excess of 1%. The all-time high in the index was 28%, recorded in September 2001, with the all-time low of 5.4% recorded in April and May 2006. The index covers
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