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4Q 2001 Partially Enhanced ABCP Market Overview May 02
Standard & Poors, May 2002
Abstract
The asset-backed commercial paper (ABCP) market experienced moderate growth during the fourth quarter of 2001. The average amount of commercial paper outstanding during the fourth quarter at $556.5 billion exceeds the average amount of commercial paper outstanding during the third quarter of 2001 ($541.4 billion) by 2.79%. Furthermore, the average amount of commercial paper outstanding during the fourth quarter of 2001 displayed a remarkable 19.9% year-to-year growth rate from the average amount of commercial paper outstanding during the fourth quarter of 2000 ($464.0 billion). During the fourth quarter of 2001, Standard & Poor's assigned ratings to five new commercial paper programs, including three multiseller and two loan-backed programs as shown in table 1. During the same time period, 623 new...
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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