Bangkok--18 Nov--Standard & Poor's
The total number of rising stars in 2011 (through Nov. 9) is 29--unchanged from our previous report. This is three less than the total number of fallen angels this year, said an article published today by Standard & Poor's Global Fixed Income Research, titled "Rising Stars In Emerging And Developed Markets, Including The U.S. And Europe: Count Remains Unchanged But Has The Potential To Increase."
"Issuers that have the greatest potential for upgrades to investment grade total 22, up by six since last month," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. "The increase in potential rising stars implies that the number of rising stars could climb through the rest of the year." 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 29 rising stars in 2011 account for US$134.1 (?98.7) billion in rated debt, significantly less than the US$227.9 (?168.9) billion in rated debt attributable to the 32 fallen angels (issuers downgraded to speculative grade) so far this year. This month is the first time this year that the number of rising stars has not increased.
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