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S&P Credit Research973 word report
published Sep 25, 2009
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S&P Credit Research
| Abstract: | The number of global issuers poised for downgrades declined slightly this month, to 921 from 955 in August, largely as a result of materialized downgrades with assignments of stable outlooks. This reduction comes after record highs were reached nearly every month since January 2008. Potential downgrades are defined as entities that have either a negative outlook or ratings on CreditWatch with negative implications across rating categories 'AAA' to 'B-'. This month, we note the following key points: The pace of downgrades as a proportion of total rating actions has begun to normalize, with the quarterly downgrade-to-upgrade ratio, both in the U.S. and globally, declining to roughly 3 to 1 so far in third-quarter 2009. This is on par with the
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| Brief Excerpt: | RESEARCH Ratings Definitions Credit Trends: Downgrade Potential Across Credit Grades And Sectors Publication date: 25-Sep-2009 Global Fixed Income Research: Diane Vazza, Managing Director, New York (1) 212-438-2760; diane_vazza@standardandpoors.com...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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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.