Bangkok--18 Aug--Standard & Poor's
Standard & Poor's Ratings Services has upgraded three issuers to investment grade from speculative grade since our last report, which brings the total number of rising stars this year to 23 (through Aug. 10), said an article published today by Standard & Poor's Global Fixed Income Research, titled Global Rising Stars: Three New Rising Stars Include Two U.S. Companies Making The Return To Investment Grade
"Two of this month's rising stars were fallen angels from prior years that have made the round-trip back to investment grade," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. The rising stars in 2011 account for US$68.1 (?48.1) billion in rated debt. This is significantly less than the US$226.3 (?159.6) billion in rated debt attributable to the 28 fallen angels (issuers downgraded to speculative grade) so far this year.
The three new rising stars since our most recent report are AutoNation Inc., Softbank Corp., and Land O'Lakes Inc.
"The count of potential rising stars has decreased by three to 18, which is our lowest total since January," said Ms. Vazza. "Potential rising stars account for US$76.3 billion, or ?53.8 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