by Bill McBride on 4/01/2009 06:09:00 PM
Note on McAfee: For some users, McAfee incorrectly flagged CR. I've spoken to McAfee, and hopefully this is resolved. You can check Google's site evaluation here.
Wednesday, April 01, 2009
From Reuters: Moody's downgraded $1.76 trln U.S. corp debt in Q1
... Moody's Investors Service downgrading an estimated $1.76 trillion of debt, a record high ...Hopefully the bank stress tests have all these defaults factored in ...
The downgrades included a record number to the lowest rating categories, signaling the approach of the worst defaults since at least World War Two ...
"The most prominent new driving force behind credit rating reductions would be deterioration of commercial real estate," [Moody's chief economist John Lonski] said. ...
Moody's has forecast that the U.S. default rate will peak around 14.5 percent in November.
Posted by Bill McBride on 4/01/2009 06:09:00 PM