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Asian high-yield market shows record rated issuance in 2017; momentum to carry into Q1 2018
Moody's Investors Service says that the Asian high-yield bond market has shown record levels of rated issuance across all markets in 2017, with momentum set to carry into 1Q 2018. "A total of $34.5 billion was issued in 2017 -- up significantly from $11.4 billion in 2016 and well above the previous record high of $23.3 billion in 2013," says Annalisa DiChiara, a Moody's Vice President and Senior Credit Officer. "Investor tolerance for low credit quality and issuers' refinancing needs continued to drive rated issuance in the Asian high-yield market," says DiChiara. "And the ratio of companies rated B3 and below fell ... (full story)