Fitch bond downgrades rival 2001-02 levels

NEW YORK – Fitch Ratings downgraded ratings on $296.7 billion of U.S. corporate bonds in the third quarter, a level that tops the worst quarters of the 2001-2002 economic downturn, the rating service said. The bulk of the downgrades occurred in the financial sector, which accounted for $258.5 billion, or 87 percent, of the total.…

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