Thursday, February 14, 2008

Defaults beging to surface In January

--the downgrade-to-upgrade ratio moved up 4.11x in January from 3.46x in December --Although the bulk of investment grade corporate balance sheets remain in good shape, for sectors and credits at the forefront of the subprime meltdown and subsequent leveraged unwind such as the homebuilders, retailers, and financials the downgrades have been piling up.

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