Credit Trends: U.S. Composite Credit Spreads Daily (March 26, 2012) Mar 12
Standard & Poors, March 2012
Abstract
Standard & Poor's investment-grade composite remained unchanged at 197 basis points (bps) and the speculative-grade composite spread widened by 3 bps to 608 bps. By rating, the 'AA', 'A', and 'BBB' spreads remained unchanged at 128 bps, 170 bps, and 243 bps, respectively. The 'BB' spread widened by 4 bps to 435 bps, the 'B' spread expanded by 6 bps to 658 bps, and the 'CCC' spread expanded by 4 bps to 1,018 bps. By industry, financial institutions widened by 3 bps to 300 bps. Banks and telecommunications expanded by 1 bp each to 307 bps and 314 bps, respectively. Industrials and utilities remained flat at 288 bps and 202 bps, respectively. The investment-grade and speculative-grade spreads are both down...
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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