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S&P Credit Research8025 word report
published Dec 05, 2008
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S&P Credit Research
| Abstract: | Deteriorating asset quality, significantly reduced earnings, and the continued dislocation of the credit markets characterized third-quarter 2008 results for rated U.S. finance companies. Various government programs designed to stabilize credit market conditions, some of which were announced subsequent to quarter end, may directly or indirectly help U.S. finance companies' funding situation, as they have historically relied on market-based sources to provide capital for lending. Asset quality continued to weigh down the results of rated U.S. finance companies, with particular weakness in consumer asset classes, including residential mortgage, credit cards, and auto loans. Although housing and residential mortgage markets have been weak for more than a year, rapidly deteriorating economic conditions have significantly slowed other consumer spending, including purchases transacted with
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| Brief Excerpt: | RESEARCH Ratings Definitions Industry Report Card: U.S. Finance Companies Seek Shelter From The Storm In The Third Quarter Publication date: 05-Dec-2008 Primary Credit Analyst: Rian M Pressman, CFA, New York (1) 212-438-2574; rian_pressman@standardandpo...
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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.
