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The 2012 high-yield default rate climbs back to 2.2% in August after falling to 2% previously....

The 2012 high-yield default rate climbs back to 2.2% in August after falling to 2% previously. Thus far this year, there have been 23 defaults with the par value of bonds affected of $12.2B vs. 10 issues and $4.7B in the same period a year ago. Though funding conditions remain in great shape and corporate issuance is high, underlying economic conditions are clearly slipping, notes Fitch.
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