Annual Default Rate
1992 | 1993 | 1994 | 1995 | |||||
---|---|---|---|---|---|---|---|---|
No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | |
AAA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
AA | 0 | 0.00 | 0 | 0.00 | 1 | 2.13 | 0 | 0.00 |
A | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 1 | 1.49 |
BBB | 0 | - | 0 | - | 0 | - | 0 | 0.00 |
BB | 0 | - | 0 | - | 0 | - | 0 | 0.00 |
B | 0 | - | 0 | 0.00 | 0 | 0.00 | 0 | - |
CCC | 0 | - | 0 | - | 0 | - | 0 | - |
CC | 0 | - | 0 | - | 0 | - | 0 | - |
C | 0 | - | 0 | - | 0 | - | 0 | - |
Investment Grade | 0 | 0.00 | 0 | 0.00 | 1 | 1.28 | 1 | 0.63 |
Speculative Grade | 0 | - | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
All | 0 | 0.00 | 0 | 0.00 | 1 | 1.27 | 1 | 0.61 |
No. of Ratings at the Start of the Year |
36 | 60 | 79 | 163 |
1996 | 1997 | 1998 | 1999 | |||||
---|---|---|---|---|---|---|---|---|
No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | |
AAA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
AA | 0 | 0.00 | 3 | 5.45 | 0 | 0.00 | 0 | 0.00 |
A | 2 | 3.03 | 10 | 17.24 | 0 | 0.00 | 0 | 0.00 |
BBB | 0 | 0.00 | 5 | 16.67 | 0 | 0.00 | 0 | 0.00 |
BB | 0 | 0.00 | 0 | 0.00 | 4 | 12.50 | 0 | 0.00 |
B | 0 | - | 0 | 0.00 | 2 | 22.22 | 2 | 22.22 |
CCC | 0 | - | 0 | - | 0 | - | 0 | 0.00 |
CC | 0 | - | 0 | - | 0 | - | 0 | - |
C | 1 | 100.00 | 0 | - | 2 | 66.67 | 1 | 33.33 |
Investment Grade | 2 | 1.15 | 18 | 10.98 | 0 | 0.00 | 0 | 0.00 |
Speculative Grade | 1 | 50.00 | 0 | 0.00 | 8 | 18.18 | 3 | 5.08 |
All | 3 | 1.70 | 18 | 10.78 | 8 | 7.92 | 3 | 1.46 |
No. of Ratings at the Start of the Year |
176 | 167 | 101 | 205 |
2000 | 2001 | 2002 | 2003 | |||||
---|---|---|---|---|---|---|---|---|
No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | |
AAA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
AA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
A | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
BBB | 0 | 0.00 | 2 | 1.56 | 0 | 0.00 | 0 | 0.00 |
BB | 3 | 3.37 | 1 | 1.08 | 2 | 1.98 | 1 | 2.00 |
B | 2 | 14.29 | 2 | 18.18 | 3 | 17.65 | 0 | 0.00 |
CCC | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
CC | 0 | - | 0 | - | 0 | 0.00 | 0 | - |
C | 1 | 9.09 | 0 | 0.00 | 0 | 0.00 | 1 | 50.00 |
Investment Grade | 0 | 0.00 | 2 | 0.95 | 0 | 0.00 | 0 | 0.00 |
Speculative Grade | 6 | 4.96 | 3 | 2.59 | 5 | 4.07 | 2 | 2.78 |
All | 6 | 1.85 | 5 | 1.53 | 5 | 1.54 | 2 | 0.74 |
No. of Ratings at the Start of the Year |
325 | 327 | 324 | 271 |
2004 | 2005 | 2006 | 2007 | |||||
---|---|---|---|---|---|---|---|---|
No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | |
AAA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
AA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
A | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
BBB | 0 | 0.00 | 0 | 0.00 | 1 | 1.03 | 0 | 0.00 |
BB | 6 | 24.00 | 0 | 0.00 | 1 | 4.35 | 0 | 0.00 |
B | 4 | 18.18 | 2 | 9.52 | 1 | 5.26 | 0 | 0.00 |
CCC | 1 | 50.00 | 2 | 33.33 | 0 | 0.00 | 0 | 0.00 |
CC | 0 | - | 0 | - | 0 | - | 0 | - |
C | 0 | 0.00 | 1 | 50.00 | 0 | - | 0 | - |
Investment Grade | 0 | 0.00 | 0 | 0.00 | 1 | 0.43 | 0 | 0.00 |
Speculative Grade | 11 | 22.00 | 5 | 9.43 | 2 | 4.55 | 0 | 0.00 |
All | 11 | 4.40 | 5 | 1.87 | 3 | 1.08 | 0 | 0.00 |
No. of Ratings at the Start of the Year |
250 | 268 | 277 | 275 |
2008 | 2009 | 2010 | 2011 | |||||
---|---|---|---|---|---|---|---|---|
No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | |
AAA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
AA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
A | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
BBB | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
BB | 2 | 9.09 | 2 | 8.70 | 2 | 13.33 | 0 | 0.00 |
B | 4 | 10.00 | 2 | 5.00 | 1 | 3.45 | 2 | 15.38 |
CCC | 0 | 0.00 | 1 | 9.09 | 0 | 0.00 | 1 | 11.11 |
CC | 0 | - | 0 | - | 0 | - | 0 | - |
C | 0 | - | 1 | 50.00 | 3 | 50.00 | 0 | 0.00 |
Investment Grade | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
Speculative Grade | 6 | 8.70 | 6 | 7.89 | 6 | 10.00 | 3 | 7.69 |
All | 6 | 1.88 | 6 | 1.79 | 6 | 1.74 | 3 | 0.86 |
No. of Ratings at the Start of the Year |
319 | 336 | 343 | 347 |
2012 | 2013 | 2014 | 2015 | |||||
---|---|---|---|---|---|---|---|---|
No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | |
AAA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
AA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
A | 1 | 0.84 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
BBB | 0 | 0.00 | 2 | 3.57 | 1 | 2.08 | 0 | 0.00 |
BB | 0 | 0.00 | 2 | 5.88 | 2 | 7.41 | 1 | 4.17 |
B | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
CCC | 2 | 50.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
CC | 0 | - | 0 | - | 0 | - | 0 | - |
C | 3 | 100.00 | 1 | 100.00 | 1 | 50.00 | 1 | 100.00 |
Investment Grade | 1 | 0.30 | 2 | 0.58 | 1 | 0.29 | 0 | 0.00 |
Speculative Grade | 5 | 20.00 | 3 | 6.67 | 3 | 6.12 | 2 | 4.65 |
All | 6 | 1.66 | 5 | 1.28 | 4 | 1.03 | 2 | 0.54 |
No. of Ratings at the Start of the Year |
361 | 391 | 390 | 372 |
2016 | 2017 | 2018 | 2019 | |||||
---|---|---|---|---|---|---|---|---|
No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | No. of Default | Default Rate | |
AAA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
AA | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
A | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
BBB | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
BB | 1 | 5.26 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
B | 2 | 16.67 | 0 | 0.00 | 0 | 0.00 | 1 | 4.17 |
CCC | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 1 | 33.33 |
CC | 0 | 0.00 | 0 | 0.00 | 0 | - | 0 | - |
C | 0 | - | 1 | 100.00 | 0 | - | 1 | 100.00 |
Investment Grade | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 |
Speculative Grade | 3 | 8.33 | 1 | 2.38 | 0 | 0.00 | 3 | 7.14 |
All | 3 | 0.82 | 1 | 0.27 | 0 | 0.00 | 3 | 0.82 |
No. of Ratings at the Start of the Year |
368 | 367 | 368 | 368 |
2020 | ||||||||
---|---|---|---|---|---|---|---|---|
No. of Default | Default Rate | |||||||
AAA | 0 | 0.00 | ||||||
AA | 0 | 0.00 | ||||||
A | 0 | 0.00 | ||||||
BBB | 0 | 0.00 | ||||||
BB | 0 | 0.00 | ||||||
B | 2 | 7.69 | ||||||
CCC | 0 | - | ||||||
CC | 0 | - | ||||||
C | 0 | - | ||||||
Investment Grade | 0 | 0.00 | ||||||
Speculative Grade | 2 | 4.55 | ||||||
All | 2 | 0.52 | ||||||
No. of Ratings at the Start of the Year |
381 |