Standard & Poor's released a report called "Wave of Debt Coming Due May Wash Away Some U.S. Speculative-Grade Borrowers." The report explains how the $1.7 trillion worth of nonfinancial corporate debt likely will affect borrowers and investors. John Bilardello, managing director at S&P, said the report's message is that the credit environment remains fragile and "exogenous events like the sovereign debt crisis in Europe will have an impact on the availability of liquidity and therefore on interest rates."

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