Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (25790)	11/27/2002 8:58:46 PM
From: elmatador	of 74559

U.S. corporate credit sinks despite economic rebound 28 November, 2002 03:07 GMT+08:00 By Jonathan Stempel NEW YORK (Reuters) - The ability of U.S. companies to make payments on the huge amounts of debt they took on in the go-go 1990s is sinking, even though the economy appears to be on the mend, Moody's Investors Service said on Wednesday. The credit rating agency said it has this quarter downgraded 41 higher-rated, "investment-grade" companies and upgraded just five. The 8.2-to-1 ratio is worse than the 5.2-to-1 ratio over the last year. John Lonski, Moody's chief economist, said the downward trend results largely from companies borrowing too much in the 1990s and the early part of this decade, only to find less-than-robust demand now for their products and services, notably in energy and telecommunications. <<"less-than-robust" That was taken form the bottom of the barrel, Jay!!!>> asia.reuters.com

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