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Issuer Ranking: U.S. Transportation, Strongest To Weakest Oct 10
Standard & Poors, Oct 2010
Abstract
Standard & Poor's Ratings Services' base-case 2010 outlook for the U.S. transportation industry is stable, based on certain fundamentals: an ongoing, albeit slowing, economic recovery from the deep recession in the U.S., Europe, and Japan, as well as healthier economic growth in other regions; and gradually increasing oil prices. The improving economy (both U.S. and global) has boosted demand for all transportation sectors, particularly in second-quarter 2010, but our expectation of slowing economic growth implies more-moderate credit improvement going forward. The proportion of negative rating outlooks or CreditWatch reviews on U.S. transportation companies has fallen from more than 50% in mid-2009 to only half that now, with most outlooks now stable. The change reflects both the improved economic outlook and,...
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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