Lehman Preferred Series "J" Preferred (fka LEHJQ)

[coach tequila]

U.S. high-yield stress index falls further in Feb

http://www.reuters.com/article/idUSN0215232620100302

Tue Mar 2, 2010 11:55am EST

NEW YORK, March 2 (Reuters) - A key indicator of stress in the junk bond market fell again in February, indicating that access to credit remains intact for even the riskiest of corporate borrowers, Moody's Investors Service said on Tuesday.

The agency's Liquidity-Stress Index fell for the eleventh consecutive month in February to 6.8 percent, the lowest since the global crisis deepened after the collapse of Lehman Brothers in September 2008.

The index stood at 7.7 percent in January.

While some speculative-grade, or "junk"-rated companies postponed debt sales last month as credit markets were unsettled by concerns about European sovereign risk, access to credit remains intact, Moody's said.

"We're still seeing refinancings close and there is little evidence of a repeat of the 2007-2009 credit pullback," Moody's said in the report.

The agency said that there are early signs of improving cash balances among junk-rated companies and some are even accessing debt markets to fund acquisitions.

The stress index measures the number of companies that carry the credit rating agency's lowest liquidity rating of SGL-4.

In February, there were 10 SGL upgrades versus only one SGL downgrade. (Reporting by Tom Ryan; Editing by James Dalgleish)

Found this proof that assets are still improving...along with ACCESS TO CREDIT MARKETS!

Coach T