Credit Trends: Global Potential Rising Stars Sep 06

  • ID: 1788052
  • September 2006
  • Region: Global
  • Standard & Poors
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  • ABB Ltd.
  • Biogen Inc.
  • Dyckerhoff AG
  • Indymac Bancorp
  • Marubeni Corp.
  • Takashimaya Co. Ltd.
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The key points from this month's report are: No new issuers have crossed over to investment grade from speculative grade since the last report. In the year to date, 21 issuers have crossed over to investment grade, the lowest since 2003 and well below the 39 issuers that crossed over in the same period last year. As of Sept. 14, 2006, 33 rated entities globally were best placed to acquire rising-star status, four more than the number reported in August and three more than the count one year ago. Together, these 33 entities constitute US$56.3(€44.3) billion in rated debt. The cumulative count of fallen angels continues to outpace rising stars by a margin of 13 entities (as of Sept. 14),...

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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- Allegheny Energy Inc.
- Chrysler Corp.
- Cleveland Electric Illuminating Co.
- Westar Energy Inc.
- Kerr-McGee Corp.
- Niagara Mohawk Power Corp.
- J.C. Penney Co. Inc.
- Zenith National Insurance Corp.
- ALCOA Aluminio S.A.
- Southern Pacific Rail Corp.
- Korea Development Bank
- IPALCO Enterprises Inc.
- USX Corp.
- Marubeni Corp.
- DPL Inc.
- India (Republic of)
- State Bank of India
- Ohio Casualty Corp.
- Western Financial Bank
- Royal Caribbean Cruises Ltd.
- Legrand France
- British Airways PLC
- CITIC Group Corp.
- Cap Gemini S.A.
- Nikon Corp.
- HCA Inc.
- Finial Holdings Inc.
- AES Gener S.A.
- Petroleos Mexicanos
- The Hanover Insurance Group Inc.
- Unum Group
- Bank of India
- IDBI Bank Ltd.
- Gazprom PJSC
- Advance Auto Parts Inc.
- Starwood Hotels & Resorts Worldwide Inc.
- IPSCO Inc.
- Sierra Health Services Inc.
- Metso Corp.
- Chemtura Corp.
- ABB Ltd.
- Sumitomo Metal Mining Co. Ltd.
- Charles River Laboratories International Inc.
- Enterprise Products Partners L.P.
- HeidelbergCement AG
- Dyckerhoff AG
- Takashimaya Co. Ltd.
- Waste Connections Inc.
- Time Warner Inc.
- Dundee Corporation
- Western Oil Sands Inc.
- Indymac Bancorp
- Aristocrat Leisure Ltd.
- Biogen Inc.
- ICICI Bank Ltd.
- ArcelorMittal USA Inc.
- Vivendi Universal Entertainment LLLP
- Southern Star Central Corp.
- Roper Technologies Inc.
- Freescale Semiconductor Inc.
- MMC Norilsk Nickel OJSC
- Fidelity National Information Services Inc.
- Peri-Werk Artur Schwoerer GmbH & Co. KG

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