European corporate default rate to spike - S&P Global

Europe's speculative-grade corporate default rate is expected to more than treble to 8.5% by next March rating S&P Global said on Monday, though in a more pessimistic scenario it could leap as far as 11.5%.A more optimistic 3.5% default rate would see 25 defaults, whereas the pessimistic 11.5% outcome would see 84 defaults.