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A Quiet 3rd Quarter 2000 for International Utility Ratings Oct 00
Standard & Poors, Oct 2000
Abstract
At the end of the third quarter of 2000, the foreign currency ratings distribution for non-U.S. utilities remains relatively unchanged: 56% of ratings are in the 'A' category or stronger; 44% are 'BBB' category or weaker; 20% of the portfolio is noninvestment grade. The median rating is 'A-'. The portfolio consists of 179 electric, gas, and water utility companies. Ratings movement was minimal, with two ratings downgrades (one of which was confidential) and two upgrades. Utility families are typically counted as one entity. The ratings discussed in this article are issuer credit ratings, as opposed to debt-specific ratings. Rating outlooks have modestly shifted in a negative direction. Excluding outlook changes tied to rating changes, and successive moves in the same...
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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