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Credit Trends: Stress In Corporate America: Overall Credit Conditions Are Gradually Improving For The Three Most Stressed Sectors In 2011
Standard & Poors, May 2011
In Stress In Corporate America, we use three of our preexisting research publications--weakest links, potential bond downgrades, and the distressed report--to identify and spotlight U.S. sectors we believe are currently subject to the highest levels of credit stress. In light of sluggish consumer demand and some uncertainty about economic and credit market conditions, the media and entertainment, oil and gas, and retail/restaurants sectors were, in Standard & Poor's opinion, the most troubled sectors as of April 30, 2011. These sectors had the highest levels of risk among our lists of distressed companies (defined as speculative-grade companies with securities trading in excess of 1,000 basis points, or bps, above U.S. Treasuries), weakest links (companies rated 'B-' or lower with negative outlooks...
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.