Moody's: Global spec-grade corporate default rate rises to 2.4% in May

Moody's trailing 12-month global speculative-grade default rate closed at 2.4% in May 2015, up from April's rate of 2.2%. The latest reading matched exactly the rating agency's year-ago prediction.

Moody's default rate forecasting model now predicts that the default rate will end 2015 at 2.7%. If realized, the rate will be well below the historical average of 4.5%.

Moody's Monthly Default Report includes speculative-grade default statistics by region and industry, as well as year-ago rates and year-ahead forecasts. It also provides recent rating transition data, Moody's global distressed index data and default rates among Moody's-rated loan issuers.