Bangkok--28 Aug--Standard & Poor's Standard & Poor's U.S. investment-grade composite credit spread widened marginally to 274 basis points (bps) from 272 bps on Monday. By comparison, this is more than 82% wider than the five-year moving average and 34% 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 widened to a six-month high of 790 bps, the widest spread seen since March 21, 2008, when the spread was 801 bps. By comparison, Friday's spread was 37% wider than at the start of the year and 86% 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. The large boost in Standard & Poor's U.S. speculative-grade spread owes largely to a widening among 'B' and 'CCC' credits, which saw movements of 10 bps and 18 bps, respectively. The Standard & Poor's U.S. 'CCC' composite spread, currently at 1,319 bps, is the widest since this series began in mid-2003. Media Contact: Adam Tempkin, New York (1) 212-438- 7530 [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. Key Contacts: Americas Media Relations: (1) 212-438-6667 media_ [email protected] Americas Customer Service: (1) 212-438-7280 [email protected]