12.03.2014 13:47:00

Moody's: US high-yield bond covenant quality hits new record low in February

New York, March 12, 2014 -- North American high-yield bond covenant quality fell to a record low in February after three months of improvement, Moody's Investors Service says in a new report, "Bond Covenant Quality Hits Record Low, Reversing Gains of the Past Three Months." The average covenant quality score dropped to 4.36 last month from 3.84 in January on Moody's five-point scale, in which 1.0 denotes the strongest investor protections and 5.0, the weakest.

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