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Industry Report Card: Credit Trends Turn Negative In The Weakened Global High-Technology Spending Environment Dec 08
Standard & Poors, Dec 2008
Abstract
With the slowing economy and difficult credit market conditions, overall rating changes in the global high-technology sector are now modestly negative for 2008. The trend shifted from positive to negative during the year, as expected, because of market conditions in the semiconductor sector and the ratings outlook distribution. Standard & Poor's Ratings Services expects this negative trend to continue in 2009, because of continued pressures in the semiconductor sector and slowing information technology (IT) sales growth. Semiconductor companies accounted for one-third of the technology sector's downgrades in 2008, and that sector will continue to face the biggest issues in 2009. Nonetheless, high technology's performance remains significantly better than the credit trends in the corporate sector overall, where downgrades outnumber upgrades...
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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