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Junk-Bond Defaults Continue Apace - Moody's

Posted on June 24, 2008

Junk bond ratings continued on a downward trend in May and look set to continue as the number of companies with Moody s lowest speculative grade liquidity rating matched the peak seen since such ratings were introduced in 2002. Consumer-spending slowdown and higher prices for crude oil and other commodities are continuing to pressure the intrinsic liquidity of some speculative-grade issuers, Moody s said, as SGL ratings downgrades exceeded upgrades by a wide margin in the month of May....

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commodities , crude , junk bond , oil , speculative