NEW YORK May 2 U.S. companies' ability to raise
cash to run their business improved to its strongest level since
mid-2015 in April as defaults among riskier firms were limited
due to an improving economy, a report from Moody's Investors
Service released late Monday showed.
The rating agency said its "Liquidity-Stress Index" fell to
4.9 percent last month, which was the lowest since July 2015. It
was 5.3 percent in March.
The Moody's index falls when corporate liquidity rises and
it rises when liquidity condition deteriorates.
"Speculative-grade liquidity continues to keep defaults in
check with a growing economy helping profits and a lack of
meaningful maturity and covenant concerns over the next year,"
Moody's said in a statement.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)