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Credit Trends: Downgrade Potential Across Credit Grades And Sectors Apr 06 Product Image

Credit Trends: Downgrade Potential Across Credit Grades And Sectors Apr 06

  • Published: April 2006
  • Standard & Poors

FEATURED COMPANIES

  • AAT Communications Corp.
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Abstract
This month, we note the following key takeaways: The number of entities at risk of potential downgrades jumped to a record high of 663 in mid-April, compared with 659 in mid-March. This count represents the highest since the commencement of this report last September. Entities based in the U.S. or Europe accounted for 85% of those at risk of downgrades. Telecommunications and automotive 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 by sector. Many of the entities at risk of potential downgrades were in the consumer discretionary domain (telecommunications, automotive, media and entertainment and retail/restaurants), where pressures have been building (owing...

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 READ MORE >

- Alberto-Culver Co.
- Albertson's Inc.
- IKON Office Solutions Inc.
- Alcoa Inc.
- American Express Co.
- Wyeth
- American International Group Inc.
- Ashland Inc.
- Avery Dennison Corp.
- Avnet Inc.
- Avon Products Inc.
- Bausch & Lomb Inc.
- OfficeMax Inc.
- Alliance Boots Ltd.
- Momentive Specialty Chemicals Inc.
- Bristol-Myers Squibb Co.
- Brown Shoe Co. Inc.
- CNA Financial Corp.
- Campbell Soup Co.
- Carolina Telephone & Telegraph Co.
- Dole Food Co. Inc.
- Centel Corp.
- CenturyLink Inc.
- Cincinnati Bell Inc.
- Cincinnati Financial Corp.
- Frontier Communications Corp.
- Clorox Co.
- Computer Sciences Corp.
- ConAgra Foods Inc.
- United Airlines Inc.
- Cooper Tire & Rubber Co.
- Crane Co.
- Dow Jones & Co. Inc.
- Eastman Kodak Co.
- Electricite de France S.A.
- Empire District Electric Co.
- EQT Corp.
- Ferro Corp.
- Ford Motor Co.
- Forest Oil Corp.
- GDF SUEZ S.A.
- General Mills Inc.
- Motors Liquidation Co. (fka General Motors Corp.)
- Hawaiian Electric Industries Inc.
- Vale Canada Ltd.
- International Lease Finance Corp.
- International Paper Co.
- Kinder Morgan Inc.
- Kansas City Southern
- Kerr-McGee Corp.
- Knight Ridder Inc.
- Marsh & McLennan Cos.
- Merck & Co. Inc.
- Nash Finch Co.
- Tenet Healthcare Corp.
- Newpark Resources Inc.
- Nicor Inc.
- Nortel Networks Ltd.
- Bristow Group Inc.
- ONEOK Inc.
- Owens-Illinois Inc.
- Pier 1 Imports Inc.
- Pogo Producing Co.
- Portland General Electric Co.
- Procter & Gamble Co.
- Rite Aid Corp.
- Sherwin-Williams Co.
- South Jersey Gas Co.
- Southern States Cooperative Inc.
- Southern Union Co.
- SUPERVALU Inc.
- Torchmark Corp.
- Chiquita Brands International Inc.
- Universal Corp.
- VICORP Restaurants Inc.
- Wendy's International Inc.
- Cargill Inc.
- Di Giorgio Corp.
- Government Development Bank for Puerto Rico
- Mark IV Industries Inc.
- Service Corp. International
- US Airways Group Inc.
- Universal Health Services Inc.
- BellSouth Corp.
- Canadian Imperial Bank of Commerce
- Peoples Energy LLC
- Svenska Cellulosa Aktiebolaget SCA
- Swiss Reinsurance Co. Ltd.
- Victor Co. of Japan Ltd. (JVC Corp.)
- Loews Corp.
- Southwestern Energy Co.
- Italy (Republic of) (Unsolicited Ratings)
- Alaska Air Group Inc.
- Emmis Communications Corp.
- Cardinal Health Inc.
- Altria Group Inc.
- Viskase Cos. Inc.
- Navistar International Corp.
- Health Management Associates Inc.
- Pohjola Bank PLC
- Electronic Data Systems Corp.
- Constellation Brands Inc.
- Carrols Corp.
- Unisys Corp.
- CA Technologies
- Telephone and Data Systems Inc.
- Metaldyne LLC
- NextEra Energy Inc.
- Entergy Corp.
- Windstream Holding of the Midwest Inc.
- AT&T Inc.
- Pope & Talbot Inc.
- The BOC Group PLC
- Prudential PLC
- Carmike Cinemas Inc.
- Millipore Corp.
- The Gap Inc.
- UniCredit SpA
- Newell Rubbermaid Inc.
- Wisconsin Energy Corp.
- Domtar Inc.
- Longview Fibre Co.
- Edison Funding Co.
- Valhi Inc.
- Scholastic Corp.
- Advanstar Communications Inc.
- Jack in the Box Inc.
- Murphy Oil Corp.
- BCE Inc.
- Xstrata Canada Corp.
- Compagnie de Saint-Gobain
- Lear Corp.
- Telstra Corp. Ltd.
- Nationwide Mutual Insurance Co.
- Toshiba Corp.
- Victor Technologies Group Inc.
- BAA Ltd.
- Sealed Air Corp.
- Orica Ltd.
- Symbion Health Ltd.
- American Media Operations Inc.
- Duquesne Light Holdings Inc.
- Aztar Corp.
- TransCanada PipeLines Ltd.
- Beckman Coulter Inc.
- Deluxe Corp.
- Cable & Wireless Ltd.
- Norsk Hydro ASA
- Bombardier Inc.
- BASF SE
- Bayer AG
- Security Mutual Life Insurance Co. of NY
- Britannia Building Society
- Investor AB
- Repsol S.A.
- Pioneer Corp.
- Volkswagen AG
- Endesa S.A.
- Alliance One International Inc.
- Sinclair Broadcast Group Inc.
- Skandia Insurance Co. Ltd.
- Deutsche Lufthansa AG
- Encana Corp.
- American United Life Insurance Co.
- Alcatel-Lucent
- Hill-Rom Holdings Inc.
- Hungary
- Aeroports de Paris
- General Nutrition Centers Inc.
- RentPath Inc.
- Visa International Service Assn.
- Doral Financial Corp.
- Cinemark USA Inc.
- Iberdrola S.A.
- FUJIFILM Holdings Corp.
- Allbritton Communications Co.
- RPM International Inc.
- First Data Corp.
- Norbord Inc.
- Hayes Lemmerz International Inc.
- Per-Se Technologies Inc.
- Tyson Foods Inc.
- Atlantic Mutual Insurance Co.
- Buckeye Technologies Inc.
- TriMas Corp.
- Allstate Corp.
- SEACOR Holdings Inc.
- Accor S.A.
- Intelsat Corp.
- Jemena Ltd.
- Leighton Holdings Ltd.
- Eye Care Centers of America Inc.
- West Fraser Timber Co. Ltd.
- Isle of Capri Casinos Inc.
- Alderwoods Group Inc.
- Pathmark Stores Inc.
- Methanex Corp.
- Windstream Georgia Communications Corp.
- Rexam PLC
- Stater Bros. Holdings Inc.
- Stewart Enterprises Inc.
- Cytec Industries Inc.
- Spanish Broadcasting System Inc.
- Big Heart Pet Brands
- Valassis Communications Inc.
- Friendly Ice Cream Corp.
- The New York Times Co.
- E.ON SE
- Nabi Biopharmaceuticals
- Protection One Alarm Monitoring Inc.
- Transpower New Zealand Ltd.
- Softbank Corp.
- Danka Business Systems PLC
- Vector Ltd.
- DFS Deutsche Flugsicherung GmbH
- Mashantucket (Western) Pequot Tribe
- Talisman Energy Inc.
- CITIC Pacific Ltd.
- Cott Corp.
- American Safety Razor Co.
- Destination Maternity Corp.
- Xerox Business Services LLC
- Rock-Tenn Co.
- NOVA Chemicals Corp.
- Portola Packaging Inc.
- Hines Horticulture Inc.
- ProAssurance Corp.
- Sanmina Corp.
- Stena AB
- KCS Energy Inc.
- Integrys Energy Group Inc.
- Dairy Farmers of America Inc.
- Pride International Inc.
- AMF Bowling Worldwide Inc.
- AGL Resources Inc.
- World Color Press Inc.
- Koninklijke KPN N.V.
- Cofiroute
- Bally Technologies Inc.
- Banco Popular Espanol S.A.
- IXIS Corporate & Investment Bank
- HDI Haftpflichtverband der Deutschen Industrie VaG
- The Sports Authority Inc.
- Gray Television Inc.
- Majestic Star Casino LLC (The)
- Euramax International Inc.
- Intrawest Corp.
- Unifrax Corp.
- Spectrum Brands Inc.
- Kinetek Holdings Corp.
- Fairfax Media Ltd.
- Vermont Elec Coop Inc
- The Reynolds & Reynolds Co.
- Reader's Digest Assn. Inc.
- Concentra Inc.
- FAGE International S.A
- Tandus Flooring Inc.
- Nippon Sheet Glass Co. Ltd.
- Affinity Group Holding Inc.
- TravelCenters of America Inc.
- MMI Products Inc.
- Vitro S.A.B. de C.V.
- Christchurch International Airport Ltd.
- Leiner Health Products Inc.
- Ameristar Casinos Inc.
- The CitiPower Trust
- GCI Inc.
- Hollywood Theaters Inc.
- Pinnacle Entertainment Inc.
- B&G Foods Inc.
- Antenna Group S.A.
- Cascades Inc.
- EMI Group PLC
- COREALCREDIT BANK AG
- BASF Speciality Chemicals Holding GmbH
- Eneco Holding N.V.
- NBTY Inc.
- Clear Channel Communications Inc.
- Landsvirkjun
- Big Lots Inc.
- Cenveo Inc.
- Leidos, Inc.
- Corporacion Nacional del Cobre de Chile
- Sanyo Electric Co. Ltd.
- Buckeye Partners L.P.
- Amscan Holdings Inc.
- Actavis, Inc.
- Suzuki Motor Corp.
- The McClatchy Co.
- Woolworths Ltd.
- Ameren Corp.
- Tyco International Ltd.
- Eagle Family Foods Inc.
- Live Nation Entertainment Inc.
- Brand Services Inc.
- Envestra Ltd.
- American Pacific Corp.
- Ultrapetrol (Bahamas) Ltd.
- Mediacom Communications Corp.
- Tommy Hilfiger U.S.A. Inc.
- IPC Systems Inc.
- Radiologix Inc.
- Millar Western Forest Products Ltd.
- FairPoint Communications Inc.
- USEC Inc.
- Invesco Holding Co. Ltd.
- Rural Cellular Corp.
- Telesat Canada
- GulfMark Offshore Inc.
- AWB Ltd.
- KeySpan Corp.
- InSight Health Services Corp.
- PostNL N.V.
- National Oilwell Inc.
- Progressive Gaming International Corp.
- TW Telecom Inc.
- ArcelorMittal
- Portugal Telecom SGPS S.A.
- Journal Register Co.
- Rent-A-Center Inc.
- True Temper Sports Inc.
- UniCredit Bank AG
- Linens 'n Things Inc.
- Jones Group Inc.
- Hellenic Telecommunications Organization S.A.
- Motiva Enterprises LLC
- PSEG Energy Holdings LLC
- Empresa Nacional de Telecomunicaciones S.A.
- Metsa Board Corp.
- Convergys Corp.
- Alliander N.V.
- Kinder Morgan Energy Partners L.P.
- Sensient Technologies Corp.
- King Pharmaceuticals Inc.
- Stoneridge Inc.
- Gas Natural SDG S.A.
- IDACORP Inc.
- HYPO NOE Gruppe Bank AG
- Energie AG Oberoesterreich
- Bellisio Foods Inc.
- Acea SpA
- Blockbuster Inc.
- Central Parking Corp.
- American Axle & Manufacturing Holdings Inc.
- Comverse Technology Inc.
- Team Health Inc.
- Perry Ellis International Inc.
- Dura Automotive Systems Inc.
- Susquehanna Media Co.
- Cracker Barrel Old Country Store Inc.
- LifePoint Hospitals Inc.
- Matria Healthcare Inc.
- Jo-Ann Stores Inc.
- Amkor Technology Inc.
- Telecomunicaciones de Puerto Rico Inc.
- HYPO TIROL BANK AG
- Hanger Inc.
- Nexstar Broadcasting Group Inc.
- Blyth Inc.
- Sociedad General de Aguas de Barcelona S.A.
- Petro Stopping Centers Holdings L.P.
- Head N.V.
- Experian Finance PLC
- Liberty Interactive Corp.
- The Nielsen Co. B.V.
- Linde AG
- Standard Motor Products Inc.
- USI Holdings Corp. (Unsolicited Ratings)
- Manila Electric Co.
- Cleco Corp.
- Radian Group Inc.
- Conexant Systems Inc.
- Technicolor S.A.
- Bell Aliant Inc.
- ASAT Holdings Ltd.
- IASIS Healthcare Corp.
- Cheung Kong (Holdings) Ltd.
- Rent-Way Inc.
- Haights Cross Communications Inc.
- DoubleClick Inc.
- Getronics N.V.
- Interpublic Group of Cos. Inc.
- Alinta 2000 Ltd.
- Barbados
- BPB PLC
- Oberoesterreichische Landesbank AG
- Nobina AB
- Leap Wireless International Inc.
- RWE AG
- Enel SpA
- Telvent DTN Inc.
- Agrokor d.d.
- MetLife Inc.
- Furniture Brands International Inc.
- Dayton Superior Corp.
- Cirsa Gaming Corp. S.A.
- FastenTech Inc.
- Vestel Elektronik Sanayi Ve Ticaret A.S.
- ONEOK Partners L.P.
- Visteon Corp.
- Dobson Communications Corp.
- Oriental Trading Co. Inc.
- Solo Cup Co.
- Union Fenosa S.A.
- Stillwater Mining Co.
- Meritor Inc.
- Verizon Communications Inc.
- Vought Aircraft Industries Inc.
- Banca Popolare di Vicenza ScpA
- Waddell & Reed Financial Inc.
- Sappi Ltd.
- BRISA Auto-Estradas de Portugal S.A.
- RWE Npower PLC
- Telecom Italia SpA
- Duratek Inc.
- Massey Energy Co.
- Exelon Corp.
- Canwest Media Inc.
- Dublin Airport Authority PLC
- EnerSys
- AT&T Mobility II LLC
- L-3 Communications Holdings Inc.
- Elisa Corp.
- WGL Holdings Inc.
- George Weston Ltd.
- Metro Inc.
- Time Warner Inc.
- Laurentian Bank of Canada
- Canadian Natural Resources Ltd.
- Caribbean Utilities Co. Ltd.
- Sears Canada Inc.
- Reno De Medici SpA
- Emera Inc.
- Manitoba Telecom Services Inc.
- Atlantia SpA
- Intelsat S.A.
- Hudson's Bay Co.
- Norske Skogindustrier ASA
- Dresser Inc.
- RRI Energy Inc.
- TNS Inc.
- Royal Group Technologies Ltd.
- Extendicare Inc
- Essent N.V.
- Terasen Inc.
- Select Medical Corp.
- Media General Inc.
- DRS Technologies Inc.
- Superior Plus LP
- Aeroporti di Roma SpA
- ThyssenKrupp AG
- Television Francaise 1 S.A.
- Canadian Oil Sands Ltd.
- Vitamin Shoppe Industries Inc.
- Dave & Buster's Inc.
- FHC Health Systems Inc.
- Keystone Automotive Operations Inc.
- MetoKote Corp.
- Nexans S.A.
- Pilkington PLC
- Global Automotive Logistics S.A.S.
- Valentia Telecommunications upc
- Monitronics International Inc.
- GTECH S.p.A.
- Black Hills Corp.
- GTECH Holdings Corp.
- Rotech Healthcare Inc.
- Telenor ASA
- Altadis S.A.
- US Oncology Inc.
- Aurelia Energy N.V.
- National Grid PLC
- Evonik Degussa GmbH
- CMC Magnetics Corp. (Unsolicited Ratings)
- Synagro Technologies Inc.
- Jarden Corp.
- Deutsche Post AG
- New York Community Bancorp Inc.
- Roundy's Supermarkets Inc.
- D&E Communications Inc.
- PEPCO Holdings Inc.
- Workflow Management Inc.
- Regal Entertainment Group
- Plains Exploration & Production Co.
- Swift & Co.
- Constar International Inc.
- MedQuest Inc.
- BT Group PLC
- GXS Worldwide Inc.
- CFR Marfa S.A.
- Japan Airlines Corp.
- AmeriPath Inc.
- ATAC SpA
- Plastech Engineered Products Inc.
- Hunter Fan Co.
- Hilite International Inc.
- Altegrity Inc.
- Aspen Insurance Holdings Ltd.
- Rede Ferroviaria Nacional REFER E.P.E.
- Montpelier Re Holdings Ltd.
- Oriental Land Co. Ltd.
- Fresenius SE & Co. KGaA
- Minebea Co. Ltd.
- Singapore Post Ltd.
- JetBlue Airways Corp.
- Knowledge Universe Education LLC
- National Mentor Holdings Inc.
- IT Holding SpA
- Nycomed S.C.A. SICAR
- Universal American Corp.
- Banca Mediocredito del Friuli-Venezia Giulia SpA
- Boardwalk Pipeline Partners L.P.
- Magellan Midstream Partners L.P.
- Psychiatric Solutions Inc.
- PNM Resources Inc.
- Hilcorp Energy I L.P.
- DUET Group
- National Beef Packing Co. LLC
- Morris Publishing Group LLC
- Asia Aluminum Holdings Ltd.
- MedCath Holdings Corp.
- Graphic Packaging International Inc.
- Cinram International Inc.
- AMN Healthcare Inc.
- Aleris International Inc.
- HM Publishing Corp.
- Inn of the Mountain Gods Resort and Casino
- New Century Financial Corp.
- SIRVA Inc.
- North American Energy Partners Inc.
- Pinnacle Foods Group LLC
- El Pollo Loco Inc.
- Blue Ridge Paper Products Inc.
- Meiji Yasuda Life Insurance Co.
- ASM Brescia SpA
- OFG Bancorp
- Atlantic Broadband Finance LLC
- Reddy Ice Holdings Inc.
- Schefenacker AG
- Ply Gem Industries Inc.
- Smurfit Kappa Group Ltd.
- Newark Group Inc. (The)
- Human Touch LLC
- ITV PLC
- US LEC Corp.
- Caribbean Restaurants LLC
- Pure Fishing Inc.
- TI Automotive Ltd.
- EuroFresh Inc.
- Wise Metals Group LLC
- LBC Holdings LLC
- Cornell Cos. Inc.
- Kabel Deutschland Vertrieb und Service GmbH
- AdvancePierre Foods Inc.
- Language Line Holdings Inc.
- VeriFone Inc.
- KazMunayGas International N.V.
- Harry & David Operations Corp. (Unsolicited Ratings)
- K2 Inc.
- Wornick Co. (The)
- AAT Communications Corp.
- Alion Science and Technology Corp.
- Heckler & Koch GmbH
- SSA Global Technologies Inc.
- Jean Coutu Group (PJC) Inc.
- Securus Technologies Inc.
- Autoroutes Paris-Rhin-Rhone S.A.
- Standard Aero Ltd.
- Marquee Holdings Inc.
- SAZKA a.s.
- FGX International Inc.
- Abertis Infraestructuras S.A.
- Triumph HealthCare Holdings Inc.
- Berkline/BenchCraft Holdings LLC
- Kerasotes Showplace Theatres Holdings LLC
- Polypore International Inc.
- Banco Mercantil Do Brasil S.A.
- MarkWest Energy Partners L.P.
- Integrated Alarm Services Group Inc.
- Novelis Inc.
- International Mill Service Inc.
- Landry's Inc.
- Iowa Telecommunications Services Inc.
- Affinia Group Inc.
- Windsor Quality Food Co. Ltd.
- InterDent Inc.
- WRG Finance PLC
- Apptis (DE) Inc.
- MAAX Holdings Inc.
- Black Gaming LLC
- Dollarama Group LP
- Simmons Co.
- Spheris Inc.
- Hera SpA
- Stanadyne Holdings Inc.
- Safety Products Holdings Inc.
- CIMB Group Holding Bhd.
- Wyle Services Corp.
- Cognis Holding GmbH
- Del Laboratories Inc.
- Uno Restaurant Holdings Corp.
- Consolidated Communications Holdings Inc.
- PQ Corp.
- Mauser Beteiligungs GmbH
- CPI International Inc.
- Bare Escentuals Beauty Inc.
- Sears Holdings Corp.
- Xerium Technologies Inc.
- Masonite International Inc.
- Focus DIY (Finance) PLC
- Ardagh Packaging Group Ltd.
- Gerresheimer AG
- Fraser Papers Inc.
- Navarre Corp.
- American Tire Distributors Inc.
- AmWINS Group, LLC.
- Diagnostic Imaging Group LLC
- MAPCO Express Inc.
- Mandra Forestry Finance Ltd.
- Damovo Group S.A.
- Hawaiian Telcom Communications Inc.
- Foodcorp (Proprietary) Ltd.
- IAP Worldwide Services Inc.
- Riverdeep Holdings PLC
- MSC - Medical Services Co.
- Virgin Mobile USA LLC
- Eddie Bauer Holdings Inc.
- ORBIMAGE Inc.
- CCM Merger Inc.
- ACCO Brands Corp.
- Cardtronics Inc.
- LifeCare Holdings Inc.
- HIT Entertainment Ltd.
- Lenox Group Inc.
- The NASDAQ OMX Group Inc.
- Pregis Corp.
- Brookstone Inc. (Unsolicited Ratings)
- Susser Holdings LLC
- COMSYS IT Partners Inc.
- Hellas Telecommunications (Luxembourg) II
- Ethan Allen Interiors Inc.
- CCS Medical Inc.
- RGIS LLC
- IPC Holdings Ltd.
- SS&C Technologies Inc.
- Weatherford International Ltd.
- Greektown Holdings LLC
- CapRock Holdings Inc.
- Wm. Bolthouse Farms Inc.
- SGS International Inc.
- Montecito Broadcast Group LLC
- Century Theatres Inc.
- Dunkin' Brands Inc.
- Angiotech Pharmaceuticals Inc.
- Solera Holdings Inc.
- NPC International Inc.
- Billing Services Group Ltd.
- Reynolds American Inc.

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