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S&P Credit Research1838 word report
published Jan 28, 2004
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S&P Credit Research
| Abstract: | Collateral default levels in the U.S. CDO sector are stabilizing for the first time in years as many of the distressed credits that have saddled the market have finally worked their way through the system. The U.S. economy is also making a surprisingly strong comeback. Thus, Standard & Poor's Ratings Services believes that investors are returning, albeit cautiously, and corporate and structured issuance could increase in 2004 by as much as 15% in the U.S. by transaction volume. Moreover, the supply of collateral is strong and the global credit derivative business should continue to boom as acceptance by regulators inside and outside the U.S. increases. In addition, excess spreads are at historically tight levels and any widening would further release
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| Brief Excerpt: | RESEARCH Ratings Definitions Global CDO Issuance on the Rebound as Default Levels Stabilize in 2004 Publication date: 28-Jan-2004 Collateral default levels in the U.S. CDO sector are stabilizing for the first time in years as many of...
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| Report Type: | Commentary
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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.
