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U.S. Corporate Borrowers Keep One Eye On Europe As They Brace Themselves For An Uncertain 2012 Dec 11
Standard & Poors, Dec 2011
Abstract
It's no secret that economies and industries around the world have grown increasingly interdependent in the past few decades. Swings in currency-exchange rates can have a profound effect on companies that depend heavily on exports; large banks and other financial institutions are often exposed to the same risks as their overseas peers; and a recession in one region can often lead to an economic slump in another. In this light, U.S. corporate borrowers are keeping a keen eye on the sovereign debt crisis gripping Europe and its potential effects closer to home. Standard & Poor's Ratings Services sees three possibilities: Europe's political leaders take the necessary steps to avert a continuing crisis; the eurozone economy slips into a mild slump...
Companies mentioned in this report are: AMR Corp.,Macy's Inc.,J.C. Penney Co. Inc.,The Gap Inc.,Saks Inc.,The Neiman Marcus Group Inc.
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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