Global debt default rates have stayed below the historic average for the 40th consecutive month because of ample liquidity in the financial markets, credit rating agency Standard & Poor's says.
Only two corporate defaults were recorded in May, U.S. based Insight Health Services Corp. and North Atlantic Holding Company Inc., S&P said in a report published on Friday.
The two defaults bring the year-to-date total to 10, affecting rated debt worth about $2 billion, the agency said.
The 12-month global corporate speculative-grade bond default rate fell to 1.2 percent in May, from 1.25 percent in April, well below its long-term average of 4.48 percent, S&P said.
