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 registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
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The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.