Credit Trends: U.S. Composite Credit Spreads Daily (Feb. 9, 2012) Feb 12
Standard & Poors, February 2012
Abstract
Standard & Poor's investment-grade composite narrowed by 3 basis points (bps) to 208 bps yesterday, and the speculative-grade composite spread narrowed by 4 bps to 653 bps. By rating, the 'AA' and 'A' spreads tightened by 2 bps each to 136 bps and 181 bps, respectively, and 'BBB' tightened by 3 bps to 260 bps. The 'BB' spread contracted by 4 bps to 463 bps, and 'B' and 'CCC' narrowed by 6 bps each to 702 bps and 1,068 bps, respectively. By industry, financial institutions narrowed by 6 bps to 322 bps, and banks and telecommunications contracted by 4 bps each to 340 bps and 333 bps, respectively. Industrials tightened by 3 bps to 307 bps, and utilities contracted by...
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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