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ABS Market Weathers Global Storms In 1998 Dec 98
Standard & Poors, Dec 1998
Abstract
Although it was buffeted by the winds of global crisis in 1998, the ABS market managed to weather the storm. In fact, it fared surprisingly well, given the roiling economic conditions in capital markets throughout the world. Applications for asset-backed technologies expanded in 1998, which attracted new classes of both issuers and investors to the market. And at the same time, the crisis highlighted the benefits of structured financing in economies throughout the world. The global capital markets had been coping admirably with the Asian crisis since October 1997, but the Russian default in August 1998 touched off a period of global upheaval that lasted into the fourth quarter. Investors headed for the top of the ratings scale. 'In 1998,...
Companies mentioned in this report are: Petroleos Mexicanos (PEMEX)
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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