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Banks Under Pressure, Corporate And Insurance Firms Stay The Course As Europe's Top 50 Borrowers Wrestle Financial Uncertainty Oct 08
Standard & Poors, Oct 2008
Abstract
Current global financial conditions are testing the credit quality of European financial institutions. Many companies in the region's industrial and insurance sectors, however, so far remain relatively immune. Or at least that's the case among the top 50 corporate borrowers rated by Standard & Poor's Ratings Services (see table 1, which illustrates the position of the top 10 banks and the top 10 insurers). We believe, however, that most industrial and insurance companies could be affected by these conditions as the region's economies slow and real estate markets enter their most severe downturn in almost 20 years. Despite the current level of uncertainty, we expect the overall credit quality of this high-profile group to remain in investment grade, with a...
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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