The sale of lower rated bonds continued unabated yesterday, as investors looking to pick up yield moved down the credit ladder. Companies rated below investment grade sold three issues worth $330 million, following the three deals worth $340 million sold on Wednesday.

Yesterday's issuers included County Seat Stores rated B3 by Moody's Investors Service and B-minus by Standard & Poor's Corp. The company included an equity kicker in its offering, allowing debtholders to purchase up to 5% of the company in the future.

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