Carvana Was August's Largest Defaulter, Moody's Says -- Market Talk

Dow Jones2023-09-19

1245 ET - The global default rate has surpassed its historical average for two consecutive months, Moody's says, noting that 12 of the corporate issuers it rates defaulted in the month of August. The trailing 12-month global speculative-grade default rate was 4.3% at the end of August, up from 4.2% a month earlier, and both surpassing the long-term average of 4.1%, Moody's analysts say. "U.S. issuers have had the highest share of defaults so far this year," analysts add. In August, eight of the defaults were from the U.S., including Carvana. The online used car retailer was the month's largest defaulter. Carvana completed a debt restructuring that constituted a "distressed exchange, a default by our definition," Moody's says.(sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

September 18, 2023 12:45 ET (16:45 GMT)

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Carvana completed a debt restructuring that constituted a \"distressed exchange, a default by our definition,\" Moody's says.(sabela.ojea@wsj.com; @sabelaojeaguix) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 18, 2023 12:45 ET (16:45 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4559","symbol_name":"巴菲特持仓","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2368911042","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2368911042","pubTimestamp":1695055500,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1245 ET - The global default rate has surpassed its historical average for two consecutive months, Moody's says, noting that 12 of the corporate issuers it rates defaulted in the month of August. 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