Fitch Solutions: Five-Year Probability of Default Down 22% Since January

NEW YORK--(Business Wire)--
The global five-year probability of default rate has declined 22% since the
beginning of the year, according to Fitch Solutions in its latest Risk and
Performance Monitor.

The Fitch Solutions probability of default reflects equity market sentiment of
future defaults among corporate obligors. While the broad decline in default
expectation mirrors the systemic rise in equity valuations, the market is
signaling increased concern over the health care sector. 'Health care continues
to lag in both the credit and equity markets and was the only sector to
experience an increase in five-year probability-of-default last week,' said
Author and Managing Director Jonathan Di Giambattista.

This week's report also focuses on the telecommunications sector. 'Spreads on
telecoms are pricing consistently wider than historical trading levels, meaning
the market may be systemically repricing risk for the sector,' Di Giambattista
added.

The 'Fitch Risk and Performance Monitor', which is published on a weekly basis,
is available at 'www.fitchsolutions.com'.

Link to Fitch Solutions' Report: Fitch Risk and Performance Monitor

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=509525

Additional information is available at 'www.fitchratings.com'

Fitch Solutions
Jonathan Di Giambattista, +1-212-908-0273
Diana Allmendinger, +1-212 908-9192
Media Relations:
Peter Fitzpatrick, +44 (0)20 7417 4364
peter.fitzpatrick@fitchratings.com
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com

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