The credit crunch will bring a 'rolling blackout' of defaults as companies feel the pressure of tighter financial conditions, Bank of America says

The credit crunch will bring a 'rolling blackout' of defaults as companies feel the pressure of tighter financial conditions, Bank of America says

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Don Emmert /AFP/GettyImages The credit crunch will result in a wave of defaults hitting different sectors of the economy, BofA said. Strategists said a "rolling blackout" of defaults had already started in some sectors. If the US enters a full-blown recession, the defaults could rise to $1…

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