UK - Triple-B rated corporate bonds are 13 times more likely to default than triple-A bonds, Jagger & Associates claims.
The actuary calculates that over 15 years, the default rate for triple-B rated bonds is 8.37%, compared to 0.63% for their triple-A rated counterparts.
It said that while no triple-A rated bonds defaulted in the past 12 months, triple-B rated bonds had a 0.27% default rate.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).