October 10, 2018 / 11:23 AM / 2 months ago

Moody's sees modest risk of default for spec-grade issuers

Credit rating agency Moody’s said on Tuesday its Liquidity-Stress Indicator edged up to 3.3 percent in September from 3.2 percent in August, signaling that U.S. speculative-grade issuers face only a modest risk of defaults.

“September’s increase raised the LSI to its highest level since July last year,” Moody’s Senior Vice President John Puchalla said. “But overall speculative-grade liquidity continues to be bolstered by a growing U.S. economy, healthy corporate earnings and cash flows and continued investor demand for higher-yielding debt.”

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