Mubasher: Moody's global speculative-grade default rate closed at 4.6% for the trailing 12-month period ended 30 November, slightly lower from October's 4.7%, said the rating agency in its latest global default report.

Commodity sectors continue to generate the majority of defaults, accounting for two of the four defaults among Moody's-rated companies last month, even as commodities prices increased.

"Notably, even though the number of defaults, at 129, this year by Moody's-rated corporate issuers have been the highest since 2009, default counts have fallen to single digits in recent months compared with double digits during February-July," said Sharon Ou, a Moody's Vice President and Senior Credit Officer. "In November, we recorded the lowest monthly defaults count -- a total of four -- since 2014."

Default risk is expected to remain higher in certain sectors over the coming year, Moody’s indicated.

The default rate will be highest in Metals & Mining (6.3%) in the US, followed by Energy: 
electricity (6.1%), Finance (4.8%), and Oil & Gas (4.8%).

By contrast, Advertising, Printing & Publishing and Oil & Gas sectors will be the most troubled in Europe.