Diane Vazza News
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A gauge of U.S. corporate credit risk dropped after data showed American manufacturing expanded in March at a smaller rate than the prior period.
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A gauge of U.S. corporate credit risk fell for the second day as pending home sales increased in January, reaching the highest level since April 2010.
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Stoneridge Inc. , the maker of electrical parts and systems for medium- and heavy-duty trucks, is marketing notes as relative yields on speculative-grade corporate debt signals a “nascent recovery” in the economy.
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Companies are planning at least $3.5 billion of debt as weakening investor confidence in the economic recovery threatens the pace of issuance.
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The number of potential credit rating downgrades reached 613 at the end of November, the highest level in 30 months, as Europe’s debt turmoil persists, according to Standard & Poor’s.
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Companies are planning to sell at least $4.25 billion of debt as offerings of high-yield, high- risk bonds halted for a seventh trading day amid signs of a slowing economy.
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PolyOne Corp. , the maker of Geon vinyl compounds, plans to sell $320 million of notes as junk- rated companies take advantage of falling borrowing costs to refinance debt and avoid default.
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Standard & Poor’s and Moody’s Investors Service are cutting corporate debt ratings at the fastest pace since 2009 as a global economic slowdown and record borrowing erode credit quality.
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MEMC Electronic Materials Inc. , the maker of wafers for the semiconductor and solar industries, plans to sell $500 million of senior notes as spreads on high- yield debt widened for the first time this year.
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Exchange-traded funds that amassed junk bonds at a record pace in the first half of 2012 are now attracting unprecedented cash to buy speculative-grade loans as investors wager that a four-year rally in the notes is ending.
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