Moody’s has released its “Bottom Rung” list of companies that have a high risk of default and weak liquidity and there are a few technology and telecom household names on the list including AMD, Clearwire, Palm and Unisys.
Media companies are the biggest chunk of companies on the verge of credit defaults.
The list, which got some play in the Wall Street Journal Tuesday, covers 283 speculative grade companies. Last year, Moody’s Bottom Rung list had 157 companies.
Moody’s, under fire for failing to warn folks about the impending mortgage meltdown, is looking to get ahead of the latest likely round of corporate bond defaults. The problem is that Moody’s could cause more problems for companies that appear on the list.
story by Larry Dignan for ZDNet
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