Only 53 global corporations went bankrupt in 2011, a marked decrease from the 265 recorded in 2009, at the height of the global credit crisis, according to a report by Standard and Poor’s (S&P) released today.
According to the document, there is a downward trend in bankruptcy filings when these big companies, because, since the peak in 2009-equivalent to a failure rate of 4.06% – there were 81 in 2010 and 53 last year, a rate of 0.75%.
S & P bases its data on the organizations that evaluate, and notes that it did increase in 2011 was the volatility of credit stability, since there were more changes in the ratings granted by this agency as the credit risk in 2010.
Of the 53 bankrupt companies from sectors such as electricity, insurance, financial or manufacturing, only 43 were of a speculative nature-versus 223 in 2009 – while the U.S. was the largest competitive Texas electric holding company, declared insolvent with debt of 32,000 million dollars.
The total volume of debt exposed to bankruptcy amounted to 84,300 million dollars in total last year from a record 627,000 million recorded in 2009, the highest figure since the S & P began keeping a count for more than three decades.
Most insolvencies (39) were produced in the U.S., where most companies located evaluating the international agency, and its associated tax havens like the Cayman Islands and Bermuda, while Europe saw four.
S & P further notes that in 2011 lowered the corporate bond issuance, with a total of 8,377 new global emissions, compared to 8,549 in 2010.
Among the sectors most affected by the bankruptcy set out, as today’s report, the transport, forestry, telecommunications, media and entertainment companies, energy, real estate and service companies.