Credit Market Commentary: Market Derived Signal: Wider CDS Spreads May Indicate That Target Corp. Is Off The Mark

1522 word report published Aug 17, 2009

Price $150.00, add to your cart

Report Overview

Search Inside

About S&P Credit Research

Abstract:

Target's corporate credit rating by Standard and Poor's remained constant at 'A+' in the past three years. During that timeframe however, the CDS market was much more volatile. The tightest CDS spread (7 bps) occurred on Feb. 23, 2007, and the widest spread (289 bps) occurred on Nov. 21, 2008, which reflects an immense change in market sentiment. Meanwhile, its MDS fluctuated between 'bbb' and 'aa+'. Target's current CDS spread is 78 bps and its MDS is 'bbb'. Target's CDS was similar to other CDS spreads in the market during the past year. Spreads widened in fall 2008 and have generally tightened since then. Last summer, Target's CDS spreads were close to the 'A' consumer discretionary benchmark but widened toward

Brief Excerpt:

RESEARCH Ratings Definitions Credit Market Commentary: Market Derived Signal: Wider CDS Spreads May Indicate That Target Corp. Is Off The Mark Publication date: 17-Aug-2009 Market, Credit, and Risk Strategies: Michael Thompson, Managing...

Report Type:

Commentary

Sector:

Global Issuers, Public Finance, Structured Finance

Free Sample:

Click Here to Download

Format:

HTML

Enter the keyword(s) which you would like to search for within this document and click "Search"

S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

Price: $150.00

$ £ €

Free Sample

Questions about
this research?

Send page to a friend

More Credit Research

Search all our Credit Research from one place.

Get FREE Research

Can't Decide?

Purchasing premium research sight unseen can be intimidating. We want you to know what you are getting. Visit our FAQ or ask our Customer Service Team any questions about the report you are considering purchasing.