Bangkok--1 Aug--Standard & Poor's Standard & Poor's U.S. investment-grade composite credit spread widened slightly to 264 basis points (bps) yesterday, a 2-bp change from the previous day. With continued pressure on financial institutions and banks, investment-grade credit spreads are expected to remain range-bound at present high levels. Standard & Poor's U.S. speculative-grade composite credit spread remained at 747 bps, 30% wider than the start of the year and 77% wider than the five-year moving average. Speculative-grade credit spreads are poised for continued volatility, commensurate with an escalation in speculative-grade defaults over the course of this year. Media Contact: Mimi Barker, New York (1) 212-438-5054, [email protected] Analyst Contacts: Diane Vazza, New York (1) 212-438-2760 Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com. Key Contacts: Americas Media Relations: (1) 212-438-6667 media_ [email protected] Americas Customer Service: (1) 212-438-7280 [email protected]