U.S. corporate liquidity stress intensifies in March -Moody's

``U.S. companies' ability to raise cash deteriorated further in March, signaling the risk for more defaults among junk bonds, as liquidity downgrades in the energy industry reached a record high, Moody's Investors Service said on Monday... The rating agency said its "Liquidity-Stress Index" (LSI) rose to 10.3 percent last month from 9.0 percent in February..."The LSI is traveling the same path it took at the start of the last major turn in the credit cycle that started in mid-2007, which culminated with a peak in the LSI of 20.8 percent in March 2009," Moody's Senior Vice President John Puchalla said in a statement.''