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This chart, provided by Citigroup Global Markets, tracks bid-ask prices for par credit facilities that trade in the secondary market.

The ratio of downgraded companies as part of total credit rating activity will continue to decline in coming months, potentially dropping below 50%, anticipates Diane Vazza, managing director of global fixed-income research at Standard & Poor's.

Edinburgh-based Scottish Widows Investment Partnership is selectively taking money off the table in triple-Cs to lock in some of the price appreciation the lower part of the credit ladder experienced last year and in 2003.

Sage Advisory Services is executing a barbell strategy as part of its defensive stance in a rising rate environment.

--Chris Mahony, portfolio manager at J. & W. Seligman in New York, on the government-sponsored enterprises and decisions they consider before selling debentures.

The co-head of fixed-income at UBS and a fixed-income director at hedge fund leviathan SAC Capital Advisors are leaving their firms to set up a new credit fund.

UBS is planning to provide more financing to European private equity borrowers to defend its top league-table standing for advisory on European leveraged buyouts, according to Bond Week, an LMW sister publication.

UBS will provide more financing to European private equity borrowers, to defend its top league-table standing for advisory on European leveraged buyouts.

Wilbur Ross Chairman of WL Ross & Co. on the agreement to buy WestPoint Stevens out of bankruptcy.

Conducted by Tom Dawson, head of external relations department

BlueBay Asset Management, a U.K.-based bond manager, is offering capital-protected notes referenced to two of its single-strategy bond funds.