QOTD: Triple-A Companies as Relics

Loved this elegiac quote from FT’s Lex column on the dwindling ranks of triple-A rated companies:

On the shrubby uplands of the bond market ecosystem lives a dwindling band of relics from another age: the triple-A rated companies.

In the U.S. in 1980 there was more than 60 non-financial triple-A rated companies. Today there are 6.

More here.