New York, May 14, 2014 -- North American high-yield bond covenant quality declined slightly in April after improving from February's record low, Moody's Investors Service says in a new report, "Bond Covenant Quality Dips in April After a Rebound in March." The average covenant quality score weakened to 4.19 in April from 4.13 in March, after hitting 4.36 in February.

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