
High-Yield Team
Credit awards 2002

Provide an example of a new approach to analysis or a value-added service that you have introduced over the past year.
The merging of the high-yield and high-grade teams in 2001 enabled a blending of skills and expertise which has been used to provide strong analysis of the challenging crossover segment, namely credits downgraded into high yield from high grade. This is important as crossover names have been, and continue to be, the only visible means of supply to the high-yield market
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