Bangkok--20 Aug--Standard & Poor's Standard & Poor's U.S. investment-grade composite credit spread widened 6 basis points (bps) to 275 bps yesterday. By comparison, this is more than 82% 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, investment-grade credit spreads are expected to remain range-bound at present high levels. Standard & Poor's U.S. speculative-grade composite credit spread expanded to 780 bps, 15 bps wider than Friday's figure and the widest spread since the 802 bps high on March 21, 2008. By comparison, this is 35% wider than the start of the year and 83% 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 Cameron Miller, New York (1) 212-438-7617 Sudeep Kesh, New York (1) 212-438-7982 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]