Fitch Ratings-New York-23 September 2022: Fitch Ratings has revised the average cumulative default rates for sovereigns in its 2021 Transition & Default Studies (the Studies) that were initially published on March 31, 2022.
A system error in reporting software resulted in average cumulative default rates that were too low being calculated for sovereigns in ‘BB’ and below categories and included on the “Sovereign Default Rates” tab of the initial version of the Studies. To correct for the understated default rates, Fitch has published a revised version of the Studies. No other figures in the Studies were affected.
The revised version of the Studies can be found at https://www.fitchratings.com/research/corporate-finance/2021-transition-default-studies-31-03-2022
Contact:
David Li
Criteria Officer
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Media Relations: Elizabeth Fogerty, New York, Tel: +1 212 908 0526, Email: [email protected]
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