Bangkok--29 Apr--Standard & Poor's
Standard & Poor's Ratings Services has upgraded five issuers to investment grade from speculative grade since March 15, while the number of issuers that have the greatest potential for upgrades to investment grade has remained stable at 21, said an article published today by Standard & Poor's, titled "Global Rising Stars: Five Companies Upgraded To Investment Grade."
"The number of global rising stars in 2011 rose to 13 through April 15," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. "They account for US$44.4 (?30.3) billion in rated debt. This is significantly less than the US$141.0 billion, or ?96.2 billion, in rated debt attributable to the 16 fallen angels--issuers downgraded to speculative grade--so far this year."
The five new rising stars that were upgraded to investment grade from speculative grade since our most recent report are the Republic of Colombia, Ecopetrol S.A., Braskem S.A. (Odebrecht S.A.), IXE Banco S.A. (IXE Grupo Financiero S.A.B. de C.V.), and IFCO Systems N.V.
The count of potential rising stars has remained unchanged at 21, accounting for US$88.5 (?60.4) billion in rated debt. We define potential rising stars as entities that are poised for upgrades to investment grade, currently rated 'BB+' with either positive outlooks or ratings on CreditWatch with positive implications.
The report is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.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 Contact:
Diane Vazza, New York (1) 212-438-2760