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S&P Credit Research2280 word report
published Oct 06, 2009
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S&P Credit Research
| Abstract: | Negative rating changes for U.S. retail and restaurant companies are turning out to be less severe than previously expected for 2009. Nevertheless, the trend is still decidedly down, and this will mark the year as the 12th straight in declining credit quality. Through the end of the third quarter, Standard&Poor's Ratings Services changed a total of 60 ratings for these two key economic sectors. This is 6.3% less than one year ago for the same period. This year, 71.7% of the changes have been downgrades, compared with 76.5% in 2008. Thus, the downgrade-to-upgrade ratio actually receded to 2.53 to 1 from 3.27 to 1 one year ago. This is surprising, because we had expected 2009 could be relatively
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| Brief Excerpt: | RESEARCH Ratings Definitions Issuer Ranking: U.S. Retail And Restaurant Companies, Highest To Lowest Publication date: 06-Oct-2009 Primary Credit Analyst: Gerald A Hirschberg, New York (1) 212-438-7837; jerry_hirschberg@standardandpoors.com...
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| Report Type: | Commentary
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| Sector: | Global Issuers, 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.
