04.08.2016 16:46:00
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Moody's: North American high-yield bond covenant quality continues to degrade in H1 2016
New York, August 04, 2016 -- The covenant quality of North American high-yield bonds continued to deteriorate in the first half of 2016, Moody's Investors Service says in a new report. The average covenant quality score for bonds with a full set of high-yield covenants was 4.09, compared to 4.04 for bonds issued in the last six months of 2015. Including high-yield-lite bonds, the average score worsened to 4.36 from 4.31 during the same period.