Five fallen angels in first quarter is fewest since 2000, Moody's says

New York, April 8 - The total of five fallen angels in the first quarter of this year is the fewest since the first quarter of 2000, according to Moody's Investors Service.

By comparison, seven issuers were lowered to junk in the last quarter of 2003 and the quarterly average for all of last year was 12.

Meanwhile, rising stars have gained pace, with eight recorded in the quarter just completed. That is up from four in the previous quarter and an average of three per quarter for all of 2003.

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