Ratings: A 25-Year March to Junk

S&P says aggressive financial policies and rising demand for high-yield debt have pushed nearly 50% of companies below investment grade

Spurred by strong risk appetite and ample liquidity, the universe of U.S. high yield bond issuing entities continues to expand, steadily inching the U.S. ratings mix toward a 50-50 split of investment-grade and speculative-grade issuers.

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