The Turnaround Management Association, an organization of turnaround professionals, has announced the results of its June 2006 credit availability survey.  In short, the survey results show relatively good credit availability now but suggest that there may be increasing defaults in 2007.  

The TMA press release on the survey has a very interesting discussion of the results and a chart graphically shows a comparison of the credit availability results over the last five years.  The full poll results are available here.

While default rates may be relatively low now, 76% of those responding to the TMA survey believe there will be a significant increase in the debt default rate by the end of 2007.  If they’re right, we could be in for a bumpy ride next year.