Moody’s anticipates lower non-financial corporate credit ratings

The European high-yield market experienced two distinct halves in 2011 as increasing investor risk appetite in the first half was followed by the new issuance market effectively closing in the second half as concerns over European sovereigns dominated credit markets. As negative macro-economic trends persist in Europe, we anticipate a material increase in negative rating actions for high-yield non-financial corporates across the region in 2012…