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Issuer Ranking: Global High-Technology Companies, Strongest To Weakest Oct 09
Standard & Poors, Oct 2009
Abstract
Negative rating changes in the High-Tech sector have slowed considerably since June of 2009, primarily reflecting the recent stabilization of industry conditions. Sharp declines in the sector began in the fourth quarter of 2008, which, along with the ongoing recession and difficult credit market conditions, resulted in significant credit deterioration. Standard & Poor's Ratings Services anticipates more balanced credit rating trends over the second half of the year since we believe that we may now be at a trough in the technology sector's cyclical downturn. Visibility on orders remains poor and the risk of a double-dip industry decline is still a concern. However, key tech industry issuers in several sectors have reported sequential improvements in revenue for the September quarter,...
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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