Bangkok--9 Sep--Standard & Poor's
The number of global entities that are most at risk of downgrades increased by 14 from our most recent report to 465 as of Aug. 24, said an article published today by Standard & Poor's Global Fixed Income Research, titled "Global Potential Downgrades: Count Increases To 465 Following The U.S. Downgrade."
On Aug. 5, Standard & Poor's Ratings Services lowered its long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA'. "Following this rating action, several companies on last month's list of potential downgrades were downgraded, and a few entities were added to the list," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. "The total remains far below its peak of 1,028 in April 2009. Ratings across most sectors appear more stable now than they have historically, though a few sectors, including banks, show higher downgrade risk."
Potential downgrades are entities that have either negative outlooks or ratings on CreditWatch with negative implications across rating categories 'AAA' to 'B-'.
Since our last report, we removed 22 entities from the potential downgrades list, and we added 36. Standard & Poor's Ratings Services has downgraded 23 entities that were on the potential downgrades list last month. Of these, 15 remain on the list with negative outlooks or ratings on CreditWatch with negative implications.
Of the 36 entities added to the list of potential downgrades, 24 are based in the U.S. Four of the 24 were added to the list following the rating action on the U.S.
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