Global Recession Risk High As Latest IACPM Credit Outlook Forecasts Rising Defaults and Wider Credit Spreads; Europe Especially Vulnerable

New York, NY – Members of the International Association of Credit Portfolio Managers responding to the latest IACPM Credit Outlook Survey forecast rising credit defaults globally. Not a single respondent expects defaults to decline. Rather, an overwhelming majority believe defaults will rise in North America, Europe, Asia and Australia. A small number think defaults will remain at current levels. The latest Aggregate IACPM Credit Default Outlook Index is negative –82.3.