กรุงเทพฯ--16 ก.ย.--Standard & Poor's
The number of global fallen angels remained steady since our last report at 28 (through Sept. 7), while the number of potential fallen angels rose slightly by two to 42, said an article published today by Standard & Poor's Global Fixed Income Research, titled "Global Fallen Angels: No New Fallen Angels, But A Slight Uptick In The Number Of Potentials."
"The 28 fallen angels accounted for US$226.3 (?156.2) billion in rated debt," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. "This total is significantly more than the US$73.8 (?50.9) billion in rated debt attributable to the 25 rising stars (issuers upgraded to investment grade) that have emerged so far this year."
Since our most recent report, we've added two entities to the potential fallen angels list--Heartland Building Society and RONA Inc., increasing the total to 42. These issuers have a total of US$322.7 (?222.7) billion in rated debt. Potential fallen angels are issuers rated 'BBB-' with either negative outlooks or ratings on CreditWatch with negative implications.
Banks lead the list of potential fallen angels with 10 issuers. "Five of these banks are based in the Republic of Portugal, which is also on the list of potential fallen angels," said Ms. Vazza. "Portugal remains the largest potential fallen angel this month, with US$118.4 (?81.7) billion in rated debt."
By region, the U.S. leads with 17 entities, or 40.5%, of potential fallen angels. This month, 16 companies on the list are constituents of various Standard & Poor's indices.
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. Alternatively, call one of the following Standard & Poor's numbers: Client Support Europe (44) 20-7176-7176; London Press Office (44) 20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5914; or Moscow (7) 495-783-4009.
Media Contact:
Mimi Barker, New York (1) 212-438-5054,
[email protected]
Analyst Contacts:
Diane Vazza, New York (1) 212-438-2760