[lbo-talk] US distressed bonds at highest level since 2003-S&P

[uvj at vsnl.com]

UPDATE 2-US distressed bonds at highest level since 2003-S&P
http://www.reuters.com/article/CARMFG/idUSN2549641020080725

Fri Jul 25, 2008

(Adds details)

NEW YORK, July 25 (Reuters) - U.S. junk bonds trading in distressed
territory rose in July to their highest level since March 2003 as troubles
in the auto sector took a toll on bond values, Standard & Poor's said on
Friday.

About 23.5 percent of U.S. junk bonds were distressed in July, up from 13.7
percent in June, S&P said in a statement.
http://www.reuters.com/article/CARMFG/idUSN2549641020080725