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S&P warns of rise in number of defaulted oil companies

Ten corporations announced default in a week, a record since the beginning of the year

Baku. 21 May. REPORT.AZ/ Ten world corporations announced default in a week, a record since the beginning of the year. Eight of them - energy companies. Report informs the S&P agency expects further growth in the number of defaults in the oil sector.

By March of 2017 in the United States the percentage of non-repayment of debts on obligations speculative level will rise to 5.3% instead of 3.8% in March 2016, S & P rating agency warns. The bulk of the defaults and bankruptcies S & P experts expect from the oil and gas sector. "Stress from the consistently low oil prices, a possible rise in Fed rates and instability in foreign markets will lead to a greater number of bankruptcies over the next 12 months", - they say.

Notably, since the beginning of 2016, 29 energy sector corporations have already suffered a financial collapse.

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