Moody's: North American high-yield covenant quality overall stable, even while masking sector volatility
New York, February 03, 2017-- Among North American non-financial corporate sectors that issued at least 10 bonds valued at more than $250 million in the year ending 31 December 2016, none offered better than lower-tier weak investor protections, Moody's Investors Service says in its quarterly covenant quality sector report. The average covenant quality score for all high-yield bonds issued during the period was 4.29, weaker than the 4.27 average for prior 12- month period.
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