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Credit Trends: Downgrade Potential Across Credit Grades And Sectors Jan 06
Standard & Poors, Jan 2006
Abstract
A total of 620 entities appeared at risk globally of potential downgrades as of Jan. 22, 2006, compared with 632 in mid-December. Almost 87% of those at risk of downgrades were located either in the U.S. or Europe. Timely and ongoing surveillance of issuers at risk of downgrades can provide value to investors in their sectoral credit-allocation process as well as in hedging against potential capital losses arising from a downgrade. Telecommunications appeared the most vulnerable to deterioration in credit quality, in terms of the count of issuers listed with a negative bias relative to the total rated universe. Not surprisingly, many of the entities at risk of potential downgrades were in the consumer discretionary domain (automotive, media and entertainment,...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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