Bangkok--3 Nov--Standard & Poor's
Rating quality in U.S. public finance appears to be stabilizing, as indicated by the decreasing number of rating changes during the last quarter, according to a report published today on RatingsDirect, titled "U.S. Public Finance Ratings Continue To Stabilize In The Third Quarter Of 2010."
"The decreased number of rating changes appear to indicate that issuers are taking the necessary steps to stabilize their financial situations as well as that we have completed a number of criteria-related reviews," noted credit analyst Gabriel Petek. "However," he continued, "in our view, the number of downgrades could increase if employment and tax revenue trends remain weak."
The state and local government sectors (including tax-backed, appropriation, and utilities) continued to account for most of the rating changes in the public finance sector, with 234 upgrades and 20 downgrades.
The report is available to RatingsDirect subscribers on the Global Credit Portal at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to
[email protected]. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
Media Contact:
Ana Sandoval, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
Gabriel Petek, CFA, San Francisco (1) 415-371-5042
Robin Prunty, New York (1) 212-438-2081
Steven J Murphy, New York (1) 212-438-2066