Distress Rises Again As The Easy Credit Party Ends, Article Says
As of Sept. 15, distressed issues across 13 sectors cumulatively affected debt worth $14.3 billion, up from the $12.7 billion reported last month according to an article published by Standard & Poor’s today. The report, titled “U.S. Distressed Debt Monitor,” said that based on debt volume, the media and entertainment sector had the largest portion of the total, constituting 42% this month, fully 31% higher than the nearest sector.
“The U.S.
distress ratio continued to climb after its recent increase in August,” said Diane Vazza, head of Standard & Poor’s Global Fixed Income Research Group. “After five straight months at less than 1%, the distress ratio increased to 3.2% in September from 2.9% in August.” 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 21 countries. 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.
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