Bangkok--4 Aug--Standard & Poor's Standard & Poor's U.S. investment-grade composite credit spread widened slightly to 269 basis points (bps) yesterday, a 5-bp change from Wednesday. 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 widened to 757 bps, 35% wider than the start of the year and 78% wider than the five-year moving average. The speculative-grade credit spread is 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