(Reuters) - A weaker economy and record issuance of very low-rated debt are expected to drive defaults modestly higher, however, Moody's said in a statement. The global default rate is expected to rise to 2.7 percent by the end of 2007 and to 3.5 percent a year from now, Moody's said.
The long-term average is about 5.1 percent.
Read more at Reuters.com Bonds News
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