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To: AllansAlias who wrote (5245)	7/23/2000 4:45:29 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

interactive.wsj.com "Default rates should only get worse this year," predicts Merrill Lynch analyst Martin Fridson. The question, of course, is what happens if the economy slows sharply in the months ahead. If default rates are rising in an environment of 5%-plus growth, tame inflation and healthy corporate profits, what happens if the economy experiences a hard landing in the months ahead? Actually, all it would take for defaults to surge is a sustained slowdown in growth. Many analysts think a growth downshift to the 1.5%-2% range would be enough of a shock to slam credit quality throughout Corporate America.