Abstract: Standard&Poor's expects the rate of default in the U.S. speculative-grade segment to increase materially in the next 12 months, reaching 7.6% by September 2009, the highest in nearly six years. The spread of tumult across a variety of markets including, but not limited to, interbank lending, bonds, and equities, has been countered with aggressive government intervention. But, we do not expect the turmoil to pass without incident for a broader swathe of corporations and the economy in general. The number of corporate casualties is increasing in the U.S. in line with expectations, but it still remains relatively limited considering the financial upheaval in the third quarter. A total of 24 defaults were recorded during the most recent quarter

Brief Excerpt: RESEARCH Ratings Definitions Credit Trends: Financial Tumult Pellets Corporates, Exacerbates Default Outlook Threefold Publication date: 16-Oct-2008 Global Fixed Income Research: Diane Vazza, Managing Director, New York (1) 212-438-2760;...

Report Type: Commentary
Sector: Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Corporations, Financial Institutions, Global Issuers, Insurance, International Public Finance, Public Finance, Real Estate Companies, Residential MBS, Servicer Evaluations, Sovereigns, Structured Finance, Utilities
Free Sample: Click Here to Download

Enter the keyword(s) which you would like to search for within this document and click "Search"

 

 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.