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10 Jointly-Supported Issues Remain On CreditWatch Positive Following Criteria Revision Feb 06
Standard & Poors, Feb 2006
Abstract
SAN FRANCISCO (Standard & Poor's) Feb. 9, 2006--Standard & Poor's Ratings Services revised its criteria for rating jointly supported obligations. The ratings outlined below remain on CreditWatch with positive implications following the criteria revision. The revised, more refined approach reflects Standard & Poor's in-depth default correlation research and extensive analysis of speculative-grade default risk. Under the new criteria, ratings are derived from a more sophisticated calculation of the joint probability of default, including explicit default risk correlation assumptions. The criteria refinement extends the application of this approach to speculative-grade obligors, potentially expanding the number of transactions that could benefit from this type of analysis. An instrument is jointly supported when each obligor is fully responsible for the entire obligation. In...
Companies mentioned in this report are: American Baptist Estates Inc.,Massachusetts Development Finance Agency,Arizona Hlth Fac Auth,New Jersey Econ Dev Auth,New York State Dorm Auth,California Statewide Communities Dev Auth,Geriatric Svcs Hsg Corp Inc,Brandon Resid Treatment Ctr. Inc.
Action: CreditWatch Update
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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