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: Mimi Barker, New York (1) 212-438-5054 [email protected] Analyst Contact: 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.