Credit Quality

Kamakura Troubled Company Index Down 0.56% to 5.10%

Kamakura Corporation announced Monday that the Kamakura index of troubled public companies deteriorated again in November, the 15th decline in credit quality in the last 16 months. The Kamakura global index of troubled companies increased to 22.6% of the public company universe from 22.0% of the universe in October. The all-time high in the index was 28%, recorded in September 2001. At the 22.6% level, the index shows that credit conditions are better than only 6.3% of the monthly periods since the start of the index in January, 1990.

Kamakura Corporation announced Tuesday that the Kamakura index of troubled public companies showed strongly deteriorating global credit quality in December, the 16th decline in credit quality in the last 17 months. The Kamakura global index of troubled companies increased to 24.0% of the public company universe from 22.6% of the universe in November. Kamakura defines a troubled company as a company whose short term default probability is in excess of 1%. The all-time high in the index was 28%, recorded in September 2001.