Bangkok--8 Sep--Standard & Poor's Standard & Poor's U.S. investment-grade composite credit spread widened to 277 basis points (bps) yesterday, 2 bps wider than Wednesday's figure but 6 bps tighter than Tuesday's sharp drift to 283 bps. 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 also widened back to 796 bps, the upper-bound of its range for the past two weeks and the widest spread in six months. 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 widening of the speculative-grade composite was largely driven by credits in the 'B' and 'CCC' rating categories, which widened to 853 bps and 1,333 bps, respectively. Across all rating categories, spreads are roughly 4% wider than the 30-day moving average. Media Contact: Mimi Barker, New York (1) 212-438-5054, [email protected] Analyst Contacts: Diane Vazza, New York (1) 212-438-2760