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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: pater tenebrarum who wrote (36198)11/10/2000 1:02:55 PM
From: LLCF  Read Replies (1) of 436258
 
From Grant's:

*In 1992 < 5% junk issuance was 144a, first 1/2 2000... 80%.

* between 34% and 48% of B-rated bonds default within 8 years.... using Moodies methodology.

* According to SSB, in 1999, 56% of defaults occurred within 24 months and 68% within 36 months of issuance. In 2000, 42% in the first 24 months, 73% in first 36 months.

* Meanwhile average 'recovery rate' has gone from 28c on dollar to 26c on dollar compared to historical average of 40c.

DAK
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