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Credit Trends: Global Fallen Angels: Total In The First Half Of 2011 Surpasses All Of 2010 Jun 11 Product Image

Credit Trends: Global Fallen Angels: Total In The First Half Of 2011 Surpasses All Of 2010 Jun 11

  • Published: June 2011
  • Standard & Poors

FEATURED COMPANIES

  • ACOM Co. Ltd.
  • CITIC Pacific Ltd.
  • Family Dollar Stores Inc.
  • Marsh & McLennan Cos.
  • Portugal (Republic of)
  • R.R. Donnelley & Sons Co.
  • MORE

Abstract
Since last month's report on potential fallen angels, Standard & Poor's Ratings Services has downgraded three companies to speculative grade from investment grade. These three downgrades bring the number of global fallen angels in 2011 (through June 8) to 21, one more than the total in full-year 2010. The fallen angels in 2011 account for US$219.4 (?152.2) billion in rated debt. This total is significantly more than the US$60.6 (?42.1) billion in rated debt attributable to the 19 rising stars--issuers upgraded to investment grade--that have emerged so far this year. (For details, see "Global Rising Stars: Three New Rising Stars Bring The Global Total To 19," published June 21, 2011.) Highlights from this month's report are: The three new fallen...

Companies mentioned in this report are:
- R.R. Donnelley & Sons Co.
- International Lease Finance Corp.
- Marsh & McLennan Cos.
- Tokyo Electric Power Co. Inc.
- Portugal (Republic of)
- Greece (Hellenic Republic)
- SEMCO Energy Inc.
- CITIC Pacific Ltd.
- Portugal Telecom SGPS S.A.
- ACOM Co. Ltd.
- WA Network Holdings Pty Ltd.
- Family Dollar Stores Inc.

Standard and READ MORE >

- R.R. Donnelley & Sons Co.
- International Lease Finance Corp.
- Marsh & McLennan Cos.
- Tokyo Electric Power Co. Inc.
- Portugal (Republic of)
- Greece (Hellenic Republic)
- SEMCO Energy Inc.
- CITIC Pacific Ltd.
- Portugal Telecom SGPS S.A.
- ACOM Co. Ltd.
- WA Network Holdings Pty Ltd.
- Family Dollar Stores Inc.

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