| Credit analysts get back to fundamentals | Declarations of independence |
| Go to full results: High Grade | Go to full results: High Yield |
| Methodology and voter profiles |
| John Fusek | ||||||
The large number of fallen angels – formerly investment-grade credits that have fallen to non-investment grade – has led many firms to consider merging their once separate investment-grade research teams with their high-yield colleagues. In Europe the two markets have been almost entirely distinct, with different buyers and few of what are called cross-over investors operating in the middle ground populated by rising BBs and falling BBBs.
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