Companies line up to issue high-yield bonds

10/23/2009 | Wall Street Journal, The

Lower default predictions, low interest rates and continued demand from investors are spurring a variety of companies to issue high-yield bonds. Standard & Poor's reduced its default-rate outlook for speculative-grade corporate debt from 13.9% to 6.9%. The credit-rating agency cited reduced funding costs resulting from government support of the credit markets. However, market participants say the government aid is sustaining the rally in high-yield bonds.

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