In default
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1. Borrowing and lending.
A situation in which a borrower has failed to pay an instalment of interest in principal in full and on time.
2. Credit ratings - credit risk evaluation.
Defined more broadly, a situation in which a borrower has entered into bankruptcy filings, administration, receivership, liquidation or another formal winding-up procedure, or has otherwise ceased business with its debt obligation still outstanding, or has failed to pay an instalment in full and on time.
(Source - Fitch rating definitions - D (default).)
See also
- Administration
- Bankruptcy
- Bond
- Bond indenture
- Credit rating
- Cross default
- Debt
- Default
- Defaulting lender
- Default fund
- Event of default
- Exposure At Default
- Finance party default
- Fitch
- Instalment
- Interest
- Issuer
- Liquidation
- Loss Given Default
- Loan agreement
- Materiality
- Non-performing loan
- Principal
- Winding-up
