S&P Credit Research



Title:

Credit Trends: Europe Credit Comment: Declining Confidence Compounds Risks To Credit Quality (Premium)

Price:$500.00
Publication Date:May 01, 2008
Report Type:Commentary
Abstract:Economic sentiment in the Eurozone continues to slip, increasing the likelihood of credit deterioration. A sluggish economic outlook, tight lending conditions, a strong euro, and elevated oil, food, and commodity prices dragged the Eurozone economic sentiment index down to a 32-month low of 97.1 in April, below its long-term average of 100 for the second consecutive month. Both consumer and business confidence indices have weakened markedly in recent months, heightening concerns over cyclical sectors that are particularly reliant on consumer spending and business investment. Eurozone unemployment, however, remains at a record low and could provide support to consumer spending, offsetting some of the risks to economic growth. An accommodative monetary policy could also help mitigate some of the strain from
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Word Count:296
Sector:Global Issuers, Structured Finance, Public Finance, Financial Institutions, Insurance, Sovereigns, Corporations, International Public Finance, Utilities, Servicer Evaluations, Asset-Backed Securities, Collateralized Debt Obligations, Real Estate Companies, Asset-Backed Commercial Paper, Commercial MBS, Residential MBS
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S&P Credit Research

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.

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