Bangkok--16 Sep--Standard & Poor's
Standard & Poor's Ratings Services upgraded two issuers to investment grade from speculative grade, which brings the total number of rising stars this year (through Sept. 8) to 25, said an article published today by Standard & Poor's Global Fixed Income Research, titled "Global Rising Stars: Two U.S. Companies Become The Latest Rising Stars."
"The two new rising stars since our last report are U.S. companies: URS Corp. and Petrohawk Energy Corp.," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. "The 25 rising stars in 2011 account for US$73.8 (?53.5) billion in rated debt, which is significantly less than the US$226.3 (?156.2) billion in rated debt attributable to the 28 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 17, a decrease of one since last month. The potential rising stars account for US$71.4 (?51.7) 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 Republic of Indonesia remains the largest potential rising star, with US$53.3 (?38.6) billion in rated debt," said Ms. Vazza.
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