Bangkok--4 Sep--Standard & Poor's Standard & Poor's U.S. investment-grade composite credit spread widened to 283 basis points (bps) yesterday, the first significant widening in two weeks, which averaged about 272 bps. By comparison, this is more than 88% wider than the five-year moving average and 39% 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, which has fluctuated between 775 bps and 790 bps, also widened to 796 bps. Further, each speculative-grade rating category spread widened 10 bps yesterday, to 506 bps for 'BB', 856 bps for 'B', and yet another five-year record of 1,335 bps for 'CCC' credits. 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 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]