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The global speculative grade default rate remained at its eight- year low of about 1.8% percent for July, Moody's Investors Service reported August 5. This is down from 2.4% in January and from 3.1% a year ago, a decline of 44%. Moody's also noted that since there was no Moody's-rated loan defaults last month, the default rate for US leveraged loan issuers also did not change from June to July, remaining at 1.7%.