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Credit Trends: U.S. Composite Credit Spreads Daily (Jan. 25, 2012) Jan 12 Product Image

Credit Trends: U.S. Composite Credit Spreads Daily (Jan. 25, 2012) Jan 12

  • ID: 2046233
  • January 2012
  • Region: United States
  • Standard & Poors

Abstract
Standard & Poor's investment-grade composite spread and speculative-grade composite remained unchanged yesterday at 218 basis points (bps) and 678 bps, respectively. By rating, the 'AA' spread widened by 1 bp to 144 bps, and 'A' and 'BBB' remained flat at 190 bps and 273 bps, respectively. The 'BB' spread contracted by 2 bps to 478 bps, 'B' narrowed by 1 bp to 728 bps, and 'CCC' contracted by 3 bps to 1,133 bps. By industry, financial institutions tightened by 1 bp to 342 bps, and banks and telecommunications narrowed by 2 bps to 371 bps and 345 bps, respectively. Industrials and utilities remained unchanged at 323 bps and 217 bps, respectively. The investment-grade and speculative-grade spreads are both down from...

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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