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S&P Credit Research1798 word report
published Apr 06, 2009
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S&P Credit Research
| Abstract: | With the economy still struggling with one of the worst recessions in memory, U.S. consumers continue to dig in their heels to the detriment of retailers. As a result, Standard&Poor's Ratings Services anticipates that the severe negative credit trends for these sectors in 2008 will continue throughout 2009, making it the 11th straight year of declining credit quality. For all of 2008, downgrades overwhelmed upgrades by a 3.9:1.0 margin, the worst showing since 2001, when the ratio was 4.5:1.0. Through March 31, 2009, we have 14 downgrades and only two upgrades. This is similar to last year's first quarter that saw 14 upgrades and one downgrade. The retail environment remains plagued by a very poor housing market, a
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| Brief Excerpt: | RESEARCH Ratings Definitions Issuer Ranking: U.S. Retailers, Strongest To Weakest Publication date: 06-Apr-2009 Primary Credit Analyst: Gerald A Hirschberg, New York (1) 212-438-7837; jerry_hirschberg@standardandpoors.com With the...
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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.
