Bangkok--5 Aug--Standard & Poor's Standard & Poor's U.S. investment-grade composite credit spread tightened slightly to 266 basis points (bps) on Friday, a 3-bp change from Thursday. With continued pressure on financial institutions and banks, the investment-grade credit spread is expected to remain range-bound at present high levels. Standard & Poor's U.S. speculative-grade composite credit spread widened to 764 bps, 36% wider than the start of the year and 80% 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