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2011 Outlook: U.S. Finance Companies Are Inching Forward Jan 11
Standard & Poors, Jan 2011
Abstract
2010 was a transitional year for Standard & Poor's Ratings Services' rated U.S. finance companies. The recent deep recession and credit-market dislocation significantly weakened the financial condition of most of the finance companies we rate, resulting in a few defaults and a relatively high number of downgrades and negative outlooks (see table 1). In 2010, many companies that survived the downturn made tangible progress in repairing their damaged balance sheets and restoring profitability. Nevertheless, pockets of weakness remain, particularly in residential and commercial real estate (CRE). Any positive impact on ratings from gradual improvements in financial condition and operating performance has been muted thus far, reflecting the considerable downside risks associated with the tentative economic recovery and evolving regulatory environment....
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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