Standard & Poor’s says 112 corporations went into default last year. That’s the most since 2009, but it’s still less than half the total from that year. The oil and gas sector made up more than a quarter of the total and the mining sector was the next-hardest-hit. That’s not a surprise because energy and metals prices plunged in 2015. Most of the companies that defaulted were based in the U.S., but defaults in emerging markets also increased and set their highest levels in six years.