Credit quality deteriorated steeply from mid-October to mid-November despite the recent actions by the Federal Reserve to stimulate credit markets, CFO reports.
As of Nov. 15, $36.2 billion worth of debt was in distressed issues, more than four times the $8.6 billion reported a month earlier, according to Standard & Poor's. Distressed debt as a percentage of total debt recorded its largest monthly increase in five years, more than doubling to 4.9% from 2.3 percent. The ratio was as low as 2.1% 12 months ago.
Read this story in its entirety at CFO.com.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment