MModal Inc. skipped a scheduled bond interest payment yesterday, taking advantage of a 30-day grace period as the provider of medical transcription services negotiates with creditors to cut the company’s debt load.
A gauge of corporate credit risk rose to the highest level since November as data showed American factories expanded at the weakest pace in eight months. A Hyundai Motor Co. unit sold $1.5 billion of bonds in the U.S.
A measure of U.S. corporate credit risk dropped the most in seven weeks as data showed consumer confidence firming and emerging market stocks snapped three days of losses. Goldman Sachs Group Inc. sold $3.2 billion of bonds.
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.
A gauge of U.S. corporate credit risk fell to about the lowest level in six years after Federal Reserve Chairman Ben S. Bernanke said the economy is poised for faster growth even as he cuts stimulus. Relative yields on investment-grade debt declined to the least since 2007.