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Issuer Ranking: U.S. Health Care Companies, Strongest To Weakest Oct 07
Standard & Poors, Oct 2007
Abstract
Even as uncertainty tied to presidential politics looms larger over the health care field, the growing debt burden on industry players remains the overarching consideration in the deteriorating credit quality of U.S. health care companies. Standard & Poor's Ratings Services' downgrades in this sector outnumbered upgrades by more than three to one year-to-date in 2007, extending the trend of the year before. Moreover, if general economic conditions remain tight, liquidity concerns for the universe of health care credits will grow, particularly considering that speculative-grade ratings are assigned to three quarters of all health care companies. Accordingly, negative rating outlooks are twice as numerous as positive outlooks. While the frenzied capital market conditions that fed the debt appetite in corporate health...
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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