Corporate default rate not likely to exceed 0.5%

Corporate default may2020

PETALING JAYA: As the Covid-19 pandemic continues to rattle businesses across the nation, more corporate rating downgrades are expected this year although the default rate will unlikely exceed that of the last global financial crisis (GFC).

One of the two leading rating agencies in the country, RAM Ratings said it anticipated more corporate rating downgrades this year but defaults wise, it did not expect it to exceed 0.5% within the next one year.