Bangkok--21 Jul--Standard & Poor's
Standard & Poor's Ratings Services has upgraded one issuer to investment grade from speculative grade since our last report, bringing the total number of rising stars this year to 20 (through July 11), said an article published today by Standard & Poor's Global Fixed Income Research, titled "Global Rising Stars: One New Rising Star Brings The Global Total To 20."
In comparison, rising stars totaled 16 by this point in 2010, slightly less half of the 34 total rising stars for the full year.
The rising stars in 2011 account for US$60.9 (?42.9) billion in rated debt. This is significantly less than the US$222.7 (?156.9) billion in rated debt attributable to the 24 fallen angels (issuers downgraded to speculative grade) so far this year.
"Fallen angels typically outnumber rising stars. The count of fallen angels exceeded that of rising stars in 13 out of the 24 years between 1987 and 2010," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. "And although rising stars outpaced fallen angels in 2010, so far in 2011, we've seen a return to the usual pattern."
The count of potential rising stars has increased by one to 21. These issuers account for US$81.3 (?57.3) billion in rated debt. We define potential rising stars as entities that are positioned 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