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U.S. high-yield rating trend best since 1997, Moody's says
New York, Oct. 13 - U.S. high-yield ratings had their best quarter since 1997 in the three months just completed, according to Moody's Investors Service.
For the third quarter, upgrades made up 58% of rating changes for U.S. high-yield companies, the highest level since 61% in the fourth quarter of 1997.
By par value the ratio was 79%, the best since 82% in the second quarter of 1998.
Year to date, the ratio by number is 52%, up from 35% for all of 2003, Moody's said.
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