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Australian and New Zealand Ratings Downgrades Almost Double Upgrades in 2001 Jan 02
Standard & Poors, Jan 2002
Abstract
A review of credit quality, as measured by rating actions on Australian and New Zealand entities during 2001, revealed that rating downgrades continued to exceed upgrades, with 21 upgrades and 40 downgrades between Jan. 1, 2001-Dec. 31, 2001. This compares with 22 upgrades and 29 downgrades in 2000. The majority of ratings actions during the review period resulted from an improvement or deterioration in financial flexibility or business profile, although the global recession; albeit a mild one, has weakened overall credit quality. In its regular review of credit quality, Standard & Poor's examines rating actions-the number of upgrades versus downgrades-on Australian and New Zealand entities to determine the overall direction of credit quality for rated entities domiciled in this region....
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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