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U.S. Corporate Borrowers May See A Balance Of Upgrades And Downgrades Through Year-End 2011 Sep 11
Standard & Poors, Sep 2011
Abstract
Rated U.S. nonfinancial corporate borrowers are enjoying a second straight year in which rating upgrades have outpaced downgrades, but Standard & Poor's Ratings Services expects the pace of upgrades and downgrades to be more balanced, at least through the end of 2011. (Watch the related CreditMatters TV segment titled, 'Why Upgrades And Downgrades On U.S Corporate Borrowers Could Balance Out For The Rest Of 2011,' dated Sept. 9, 2011.) Among all U.S. corporate borrowers, upgrades have outnumbered downgrades by about 1.6 to 1 so far this year. However, the improvement in creditworthiness has been mostly among speculative-grade entities. This trend has applied across most sectors, except for consumer products manufacturers and homebuilders, and the trend is slower among retailers--the three...
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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