Posted 9 января 2023,, 06:01

Published 9 января 2023,, 06:01

Modified 9 января 2023,, 07:14

Updated 9 января 2023,, 07:14

The number of corporate defaults has doubled in 2022

The number of corporate defaults has doubled in 2022

9 января 2023, 06:01
Last year, 15 companies defaulted on their obligations to issue 31 bonds, which is twice as much as in 2021 - seven and 11, respectively.

As Vedomosti writes, referring to the data of the Expert RA agency, in 2022 the largest default was made by OR Group (formerly "Shoes of Russia"). In January, the company did not pay for the issue of BO-07 bonds in the amount exceeding 592 million rubles. The last default was made by the organization on December 28. Then OR Group did not pay 159.95 million rubles. Invest-Development failed to meet its obligations.

On April 21, the company defaulted on the repayment of the nominal value of 68.56 million rubles. Basically, defaults fall on corporate borrowers who have a rating below ruBB or do not have a rating at all.

This is due to the fact that Russian entities that issue municipal bonds can count on government support, while corporate borrowers with a low rating cannot. In this regard, the risk of default is higher for them.