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Credit Trends: Downgrade Potential Across Credit Grades And Sectors Jun 06
Standard & Poors, June 2006
Abstract
This month, we note the following key points: The number of entities at risk of potential downgrades reached 665 in mid-June, the highest level since the inception of this report 10 months ago. The count of vulnerable entities has increased in four of the first six months of this year. Eighty-five percent of the entities at risk of downgrades are based in the U.S. or Europe. Automotive, telecommunications, and media and entertainment have the highest ratio of issuers with a negative bias relative to their respective total rated universe. These sectors are therefore most vulnerable to credit quality deterioration. Many of the entities at risk of potential downgrades are in the consumer discretionary domain (automotive, media and entertainment, retail/restaurants, and...
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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