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S&P Credit Research998 word report
published Nov 06, 2009
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S&P Credit Research
| Abstract: | CHICAGO (Standard&Poor's) Nov. 6, 2009--U.S. Public Finance rating actions remained positive in the third quarter mainly because of updates to Standard&Poor's Ratings Services' criteria, the ratings agency said today in a report. There were 378 upgrades (excluding the housing sector) and only 27 downgrades, a ratio of 14:1. This ratio has nearly doubled from the second quarter (7.7:1) and more than tripled since the first quarter (3.9:1). But it still remains below the 16.2:1 quarterly mean for 2008, which had fewer downgrades. "In our view, strong fiscal management has buoyed our credit ratings to date, particularly for state and local governments, which accounted for 95% of the upgrades," said Standard&Poor's credit analyst Jim Wiemken.
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| Brief Excerpt: | RESEARCH Ratings Definitions U.S. Public Finance Upgrades Outpaced Downgrades In 3rd Quarter On Criteria Changes, Government Stability, Report Says Publication date: 06-Nov-2009 Primary Credit Analyst: James Wiemken, Chicago (1) 312-233-7005;...
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| Report Type: | News
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| Sector: | Public 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.
