Companies just set another terrible debt milestone

The ugly year for debt just keeps getting uglier.

According to S&P Global Market Intelligence, the analysis divisons of the credit rating agency, the number of corporate defaults hit 100 this week.

“There were four corporate defaults globally in the past week, bringing the number of defaults year-to-date to 100, up from 62 during the same period last year, according to S&P,” said Global Market Intelligence in a blog post on Thursday.

The 100 defaults is the second highest since record keeping began in 2004, trailing only 2008, the middle of the financial crisis. According to Global Market Intelligence, 67 of the defaults were US companies. At this point in 2015, there were only 62 defaults worldwide.

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