|
|
 |
|
Viewing report
|
|
|
|
Bondholders Versus Shareholders--The Pressures of Managing Conflicting Expectations and the Implications For Ratings Aug 02
Standard & Poors, Aug 2002
Abstract
This commentary is taken from a presentation of the same title made at Standard & Poor's Risk Solutions conference called 'The Future of Credit Risk Management', held on May 3, 2002, in London. This commentary has been updated only to reflect recent rating actions. Financial institutions face an increasingly difficult task in trying to manage the expectations of their growing number of constituents, investor bases (typically bondholders versus shareholders), as well as regulators and rating agencies. Although some of these constituents have overlapping interests, there are more instances where interests diverge. Financial institutions are faced with the balancing act of trying to improve their market capitalization without weakening the perception of their risk appetite or financial profile--which would result in...
Companies mentioned in this report are: Deutsche Bank AG,Credit Suisse First Boston,The Royal Bank of Scotland PLC,Allfirst Bank,Commerzbank AG,Allied Irish Banks PLC,Santander UK PLC,Credit Suisse AG,Northern Rock (Asset Management) PLC,UniCredit Bank AG
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.
|
|
|
|
