NEW YORK--(BUSINESS WIRE)--Significant commodity price erosion and weak cash flow prospects have hurt the average trading prices on defaulted bond issues, according to Fitch Ratings. By proxy, this has impaired the market implied recovery rates for defaulted energy and metals/mining debt. The trailing 12-month (TTM) average price of defaulted bonds 30-days post-default dropped to $0.38 versus $0.63 six months prior to default. For 2014, without the full impact of the late year plunge in commodi