Loans to issuers rated BB printed in a 5-5.5% context, with single-B paper clearing at 6-7%, give or take.

FORBES: Connect

Broadly speaking BB loans cleared in the 4-4.5% range while single Bs printed at 6-7%.

FORBES: May 2012, US Leveraged Loan Market Trends and Analysis

Drilling down, BB loans generally cleared in a 4-4.5% context, with several seasoned issuers printing even tighter.

FORBES: March 2012, US Leveraged Loan Market Trends and Analysis

According to a global mobile workforce survey in mid-Oct, just 5% of respondents expect to upgrade to a BB, even below MSFT at 8%.

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Its 10-year national debt yields over 5.6 percent, comparable with our BB corporates.

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