September 27, 2017 / 11:20 PM / in 9 months

Recovery rate for energy defaults rebounds from brutal 2015 - Moody's

The recovery rate for creditors on defaulted debt of energy producers rose dramatically last year as investors grew more optimistic about energy assets and as the default rate for producers began a sharp fall, according to Moody’s Investors Service.

The credit rating agency said in a report on Wednesday that recovery rates last year posted a surprisingly strong and speedy rebound in light of “dismal” and “catastrophic” levels in 2015, a gloomy year for energy producers in which they suffered through the worst drop in oil prices in a generation.

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