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Metals and Mining Default Rate to Hit Double Digits in Months

2015-07-17 12:48:08| Industrial Machines - Topix.net

The metals and mining sector is facing a wave of bankruptcies, but they have yet to hit the overall default rate, which was just 5.1% for that sector as of the end of June. Patriot Coal filed for bankruptcy protection in May. Walter Energy announced it is filing for bankruptcy on July 15. Fitch Ratings reports that Walter's unsecured bonds are trading at or below $0.10, which means that poor recoveries in bankruptcy are expected.

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Category:Industrial Goods and Services

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