20% of $7 billion FCCBs will default: Fitch Ratings
Rakesh Valecha, Senior Director of Fitch Ratings speaks on the report that says, that 20% of the $7billion in FCCBs in 2012 are likely to default. Of these companies that are likely to default, 8 per cent have already defaulted on other loans, while 17 per cent are expected to undergo restructuring through maturity extension.
