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Waning demand signals turbulence in the $173 billion bottom-tier of the junk market, where Standard & Poor’s says the default rate of borrowers from Energy Future Holdings Corp. to Caesars Entertainment Corp. reached 27.2 percent in August, up 10 percentage points from a year earlier.

Photographer: Ronda Churchill/Bloomberg

Waning demand signals turbulence in the $173 billion bottom-tier of the junk market, where Standard & Poor’s says the default rate of borrowers from Energy Future Holdings Corp. to Caesars Entertainment Corp. reached 27.2 percent in August, up 10 percentage points from a year earlier.
October 12, 2012
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