Current Conditions in Global Credit Markets - NYU Stern School of ...

SIZE OF THE ALTMAN-NYU SALOMON CENTER
DEFAULTED BOND INDEX
(1987 - Oct 2006)
Year Number of Number of Face Value Market Value Market /
End Issues Firms ($ Billions) ($ Billions) Face Ratio
1987 53 18 5.7 4.2 0.74
1988 91 34 5.2 2.7 0.52
1989 111 35 8.7 3.4 0.39
1990 173 68 18.7 5.1 0.27
1991 207 80 19.6 6.1 0.31
1992 231 90 21.7 11.1 0.51
1993 151 77 11.8 5.8 0.49
1994 93 35 6.3 3.3 0.52
1995 50 27 5.0 2.3 0.46
1996 39 28 5.3 2.4 0.45
1997 37 26 5.9 2.7 0.46
1998 36 30 5.5 1.4 0.25
1999 83 60 16.3 4.1 0.25
2000 129 72 27.8 4.3 0.15
2001 202 86 56.2 11.8 0.21
2002 166 113 61.6 10.4 0.17
2003 128 63 36.9 17.7 0.48
2004 104 54 32.1 16.9 0.53
2005 98 35 29.9 17.5 0.59
2006 85 36 31.2 23.3 0.75
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