Speculative-Grade Composite Spread Narrows To 707 Basis Points Jan 12
Standard & Poors, January 2012
Abstract
NEW YORK (Standard & Poor's) Jan. 5, 2012--Standard & Poor's investment-grade composite spread remained unchanged at 223 basis points (bps), and the speculative-grade composite contracted by 2 bps to 707 bps. By rating, the 'AA' spread narrowed by 1 bp to 145 bps, and 'A' and 'BBB' remained unchanged at 196 bps and 281 bps, respectively. The 'BB' and 'B' spreads narrowed by 3 bps each to 496 bps and 753 bps, respectively, and 'CCC' contracted by 5 bps to 1,179 bps. By industry, financial institutions, utilities, and telecommunications remained flat at 357 bps, 219 bps, and 353 bps, respectively. Banks narrowed by 2 bps to 402 bps, and industrials contracted by 1 bp to 335 bps. The investment-grade and...
Action: General Comment
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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