Bangkok--1 Feb--Standard & Poor's
Standard & Poor's Ratings Services upgraded 34 issuers to investment grade from speculative grade in 2010. These issuers had rated debt worth US$82.4 (?62.2) billion, said an article published today by Standard & Poor's Global Fixed Income Research, titled "Global Rising Stars: 2010 Total Exceeds 10-Year Average."
"Three new rising stars have emerged so far in 2011, with rated debt worth US$5.7 billion, or ?4.3 billion," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. "Following a decline to a low of 22 issuers in 2009, the 2010 figure reflects moderate growth in rising star activity and is slightly above the 10-year average of 32 issuers."
Meanwhile, the count of issuers poised for upgrades to investment grade has fallen by four, to 16 issuers, accounting for US$44.9 (?33.9) billion in rated debt. We define potential rising stars as entities rated 'BB+' with either a positive outlook or ratings on CreditWatch with positive implications.
Since our last report, we removed eight issuers from our list of potential rising stars and added four.
By issuer count, the current tally of 16 potential rising stars matches the 12-month trailing average, but it's lower than the levels seen in the past few months.
In contrast, the count of entities about to cross over in the opposite direction (potential fallen angels) is at 47, with rated debt worth US$229.6 (?173.3) billion. This is down from the 18-year record high of 82 in March 2009.
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:
Mimi Barker, New York (1) 212-438-5054,
[email protected]
Analyst Contacts:
Diane Vazza, New York (1) 212-438-2760