Investment Grade Corporates Ratings Resilient in Extreme Stress Periods

Investment-grade corporate ratings have proved more resilient than speculative-grade ratings during the past 20 years' major systemic shocks, Fitch Ratings says. Even when downgrade pressure rose sharply during periods of broad stress, defaults remained concentrated in non-investment grade issuers. Speculative-grade ratings also deteriorated more sharply. The report, "Global Transition and Default…