SECURITIES
From Times Staff and Wire Reports
Corporate Bond Default Rate at 20-Year High: The junk-bond default rate is expected to reach a 20-year high this year because of tight credit, corporate bankruptcies and excess debt left over from the 1980s, Moody’s Investors Service Inc. said. The rating agency said early data shows that 10.3% of the companies with outstanding junk bonds are expected to default this year, up from 8.8% in 1990.
