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The data provided by Barclays shows the fewest fallen angels since 1998 over the last three years. Companies holding BBB debt have demonstrated prudence by bolstering cash reserves and curtailing share buybacks and growth in capital expenditure (capex).
Ford Motor Co . (NYSE:F), currently holding speculative grade, is poised for an upgrade to investment grade soon, making it the largest-ever rising star. This indicates a robust high-yield market and index, implying that other companies are also well-positioned for upgrades. These positive trends are supported by improvements in GDP and manufacturing Purchasing Managers’ Indexes (PMIs).
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