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Recovery: Results Of Revisions To Recovery Rating Scale And Issue Level Rating Framework Jun 07
Standard & Poors, June 2007
Abstract
Standard & Poor's Ratings Services has reviewed its portfolio of almost 2,300 issue level and recovery ratings on speculative-grade secured loans and bonds, in connection with the May 30 release of its revised issue rating framework and recovery rating scale. Today, we convey the results of this review by providing a comprehensive list of our speculative-grade secured debt ratings (see table 2 at the end of this report). In response to market feedback from its Oct. 4, 2006 Request for Comment, Standard & Poor's has expanded its recovery rating scale to support the extension of recovery ratings to unsecured debt, which is planned for later this year. An additional recovery level has been added at the lower end of the...
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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