US Junk Bond Default Rate Fell In January And February, Says Fitch

The US junk bond default rate fell in January and February, but will likely remain high in 2003, according to Fitch Ratings. The trailing 12-month US junk bond default rate, based on par value of bonds defaulting, fell to 14.5% in February from 15.1% the month before – and a record high of 16.4% at year-end 2002, according to a Reuters report