Moody's Investors Service says that the average covenant quality (CQ) score for Asian full-package high-yield bonds that it scored and which cleared the market in Q3 2018 was 3.36 (moderate), a level which is also a new record in weakness. "The average quarterly score weakened for a second successive quarter to reach the worst average quarterly score in which at least two bonds were scored, and was also weaker than the previous weakest quarterly score of 3.16 (moderate), reached in Q2 2018," says Evan Friedman, a Moody's Senior Vice President and Head of Covenant Research. "The weakness in the Q3 score -- mainly due ... (full story)