S&P Global Ratings’ Credit Research
S&P Global Ratings' credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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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Latest Reports from S&P Global Ratings’ Credit Research
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| Tear Sheet: NSW Ports Finance Co. Pty. Ltd. | May 08, 2025 | ||||||||||||||||||||||
| ...Tear Sheet: NSW Ports Finance Co. Pty. Ltd. . May #, #### This report does not constitute a rating action. What's new: NSW Ports Finance Co. Pty. Ltd.'s performance is likely to remain strong. We expect the company's... | |||||||||||||||||||||||
| Update: Industrial and Commercial Bank of China (Europe) S.A. | May 08, 2025 | ||||||||||||||||||||||
| ...Update: Industrial and Commercial Bank of China (Europe) S.A. Primary Credit Analyst: Federico Filpa, Milan +(##) ### ### ####; federico.filpa@spglobal.com Secondary Contacts: Anastasia Turdyeva, Dublin +(###) # ### ####; anastasia Chris M Lee, Hong Kong +(###... | |||||||||||||||||||||||
| Tear Sheet: Grunenthal Pharma GmbH&Co. KG | May 08, 2025 | ||||||||||||||||||||||
| ...Tear Sheet: Grunenthal Pharma GmbH & Co. KG . May #, #### This report does not constitute a rating action The operating performance of Grunenthal Pharma GmbH in #### exceeded our expectations, demonstrating resilience despite revenue erosion from Palexia. While the group... | |||||||||||||||||||||||
| NTT Corp. Ratings Placed On CreditWatch Negative On Planned Tender Offer For NTT Data Group | May 08, 2025 | ||||||||||||||||||||||
| ...NTT Corp. Ratings Placed On CreditWatch Negative On Planned Tender Offer For NTT Data Group May #, #### - NTT announced May #, ####, that it will conduct a tender offer worth just under ¥#.# trillion to make listed subsidiary... | |||||||||||||||||||||||
| Research Update: OQ Chemicals Rating Lowered To 'D' (Default) On Debt Restructuring Completion | May 08, 2025 | ||||||||||||||||||||||
| ...Research Update: OQ Chemicals Rating Lowered To 'D' (Default) On Debt Restructuring Completion . May #, #### Rating Action Overview · In April ####, Strategic Value Partners LLC and Blantyre Capital Ltd. acquired OQ Chemicals International Holding GmbH (OQ Chemicals), a Germany... | |||||||||||||||||||||||
| China's Monetary Stimulus Adds Strain For Banks | May 08, 2025 | ||||||||||||||||||||||
| ...China's Monetary Stimulus Adds Strain For Banks . May #, #### This report does not constitute a rating action. Key Takeaways · China's monetary stimulus is a net negative for bank margins. We think the latest cuts to key lending... | |||||||||||||||||||||||
| JHF RMBS Performance Watch May 2025 Focuses On Borrower Attributes | May 08, 2025 | ||||||||||||||||||||||
| ...JHF RMBS Performance Watch May #### Focuses On Borrower Attributes May #, #### TOKYO (S&P Global Ratings) May #, ####--Delinquency rates have risen slightly but low and stable unemployment will underpin future performance of the mortgage loans underlying... | |||||||||||||||||||||||
| JHF RMBS Performance Watch May 2025: Eyes On Borrower Attributes | May 08, 2025 | ||||||||||||||||||||||
| ...JHF RMBS Performance Watch May ####: Eyes On Borrower Attributes May #, #### Key Takeaways - Rising interest rates and sustained inflation had a limited impact on the performance of mortgage loans backing JHF notes. - We are monitoring delinquency and replacement... | |||||||||||||||||||||||
| Bulletin: Hostilities Between India And Pakistan Heighten Credit Risks In Both Countries | May 08, 2025 | ||||||||||||||||||||||
| ...Bulletin: Hostilities Between India And Pakistan Heighten Credit Risks In Both Countries . May #, #### (Editor's Note: In the original version of this bulletin published May #, ####, we misstated the short-term credit rating on India. A corrected... | |||||||||||||||||||||||
| China LGFVs In Transition: Shandong's Race To Reform | May 07, 2025 | ||||||||||||||||||||||
| ...China LGFVs In Transition: Shandong's Race To Reform May #, #### This report does not constitute a rating action. China LGFVs In Transition: Shandong's Race To Reform May #, #### PRIMARY CREDIT ANALYSTS Lorraine Liu Hong Kong +###... | |||||||||||||||||||||||
| Bulletin: ANZ To Maintain Credit Strength On Improved Revenue | May 07, 2025 | ||||||||||||||||||||||
| ...Bulletin: ANZ To Maintain Credit Strength On Improved Revenue . May #, #### This report does not constitute a rating action. MELBOURNE (S&P Global Ratings) May #, ####--Australia and New Zealand Banking Group Ltd. (ANZ) will maintain robust credit... | |||||||||||||||||||||||
| Research Update: Helia Insurance Outlook Revised To Negative On Competitive Pressure; 'A' Ratings Affirmed | May 07, 2025 | ||||||||||||||||||||||
| ...Research Update: Helia Insurance Outlook Revised To Negative On Competitive Pressure; 'A' Ratings Affirmed . May #, #### Overview · The loss of an exclusive distribution contract with Commonwealth Bank of Australia (CBA) could pressure the competitive position of Helia Insurance Pty... | |||||||||||||||||||||||
| Resorts World Las Vegas LLC | May 07, 2025 | ||||||||||||||||||||||
| ...Resorts World Las Vegas LLC . May #, #### Credit Highlights . Overview Key strengths Key risks Strong support from parent company Genting Bhd. Limited record of operations. Genting group's track record of operating integrated resorts. Single asset concentration risk. Good... | |||||||||||||||||||||||
| Korean Petrochemical Companies Face A Deeper Downcycle | May 07, 2025 | ||||||||||||||||||||||
| ...Korean Petrochemical Companies Face A Deeper Downcycle . May #, #### This report does not constitute a rating action. Key Takeaways · Korea's petrochemical companies face at least another difficult year. Overcapacity and subdued demand will likely persist and squeeze profitability... | |||||||||||||||||||||||
| Genting Malaysia Bhd. | May 07, 2025 | ||||||||||||||||||||||
| ...Genting Malaysia Bhd. . May #, #### This report does not constitute a rating action. Ratings Score Snapshot Credit Highlights . Overview Key strengths Key risks Core subsidiary of Genting Bhd., with branding and strategy closely aligned with those of the group... | |||||||||||||||||||||||
| Genting Bhd. | May 07, 2025 | ||||||||||||||||||||||
| ...Genting Bhd. . May #, #### This report does not constitute a rating action. Ratings Score Snapshot Credit Highlights . Overview Key strengths Key risks Monopoly in Malaysia and presence in Singapore's duopoly market. Focus on geographical expansion could increase leverage... | |||||||||||||||||||||||
| Research Update: Texas City, TX's Series 2025 Certificates Of Obligation Assigned 'AA-' Rating | May 07, 2025 | ||||||||||||||||||||||
| ...Research Update: Texas City, TX's Series #### Certificates Of Obligation Assigned '##-' Rating . May #, #### Overview · S&P Global Ratings assigned its '##-' long-term rating to Texas City, Texas' $## million series #### certificates of obligation. · At... | |||||||||||||||||||||||
| U.S. Capital Goods Companies Price In Tariff Costs To Defend Credit | May 07, 2025 | ||||||||||||||||||||||
| ...U.S. Capital Goods Companies Price In Tariff Costs To Defend Credit . May #, #### This report does not constitute a rating action. Key Takeaways · S&P Global Ratingsbelievesonly about ##% of issuers in U.S. capital goods could be... | |||||||||||||||||||||||
| Research Update: Whiteside, Bureau, And Henry Counties Community Unit School District No. 3, IL 2025 GO School Bonds Assigned 'A+' Rating | May 07, 2025 | ||||||||||||||||||||||
| ...Research Update: Whiteside, Bureau, And Henry Counties Community Unit School District No. #, IL #### GO School Bonds Assigned '##' Rating . May #, #### Overview · S&P Global Ratings assigned its `##' rating to Whiteside, Bureau, and Henry Counties Community... | |||||||||||||||||||||||
| Research Update: MultiCare Health System, WA Bond Rating Outlook Revised To Negative On Operating Losses | May 07, 2025 | ||||||||||||||||||||||
| ...Research Update: MultiCare Health System, WA Bond Rating Outlook Revised To Negative On Operating Losses . May #, #### Overview · S&P Global Ratings revised its outlook to negative from stable on various series of MultiCare Health System (MultiCare or MHS... | |||||||||||||||||||||||
