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Credit FAQ: Underlying Corporate Ratings Of Insured Debt Remain Strongly Investment Grade Mar 08
Standard & Poors, March 2008
(EDITOR'S NOTE: This article has been superseded by "Methodology: The Interaction Of Bond Insurance And Credit Ratings," published on Aug. 24, 2009.) Standard & Poor's Ratings Services will publish the underlying ratings (SPURs) on all insured debt of publicly rated U.S. corporate issuers that have a public issuer credit rating and are issued directly or indirectly via a tax-exempt conduit. A SPUR represents our current opinion of the stand-alone creditworthiness of a debt issue. Specifically, the SPUR indicates the capacity and willingness of an issuer to satisfy the obligations of a debt instrument on a timely basis and in accordance with the terms of the debt. A SPUR excludes consideration of any applicable credit support from a third party. Since...
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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