Bangkok--19 May--Standard & Poor's
Standard & Poor's Ratings Services has upgraded three issuers to investment grade from speculative grade since April 15, bringing the total number of rising stars this year to 16 (through May 13). These rising stars account for US$48.2 (?34.0) billion in rated debt, said an article published today by Standard & Poor's Global Fixed Income Research, titled "Global Rising Stars: The U.S. Adds Two Rising Stars, While Three New Companies Wait In The Wings."
This is significantly less than the US$145.1 (?102.3) billion in rated debt attributable to the 18 fallen angels--issuers downgraded to speculative grade--so far this year.
The number of issuers that have the greatest potential for upgrades to investment grade is 22, an increase of one since last month. Two of the three new rising stars, as well as all three of the new potential rising stars, are U.S. companies.
"The three new rising stars that were upgraded since our most recent report are Evonik Industries, Associated Banc Corp., and AirTran Holdings Inc.," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. "The 16 total rising stars this year outnumber the seven rising stars at this time in 2010."
The count of potential rising stars has increased by one to 22. Potential rising stars account for US$85.4 (?60.2) 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 Contacts:
Diane Vazza, New York (1) 212-438-2760