Bangkok--18 Aug--Standard & Poor's
Standard & Poor's U.S. investment-grade composite credit spread widened to 276 basis points (bps), 8 bps wider than the previous day. By comparison, this is more than 83% wider than the five-year moving average and 35% wider than at the beginning of the year. 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 moved slightly to 770 bps, 2 bps wider than the previous day. By comparison, this is 34% wider than the start of the year and 81% 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:
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Analyst Contact:
Diane Vazza, New York (1) 212-438-2760