Bangkok--22 Mar--Standard & Poor's
Standard & Poor's Ratings Services' latest "Global Potential Rising Stars" report says that globally, nine issuers have crossed over to investment grade from speculative grade in the year to date. This is three more than the total year to date reported in February, affecting debt worth US$16 (EU12.1) billion.
"Five of the nine issuers that have crossed over to investment grade were Indian-based banks," noted Diane Vazza, head of Standard & Poor's Global Fixed income Research Group. "Though it is still early in the year, rising stars have overtaken fallen angels by a margin of three entities in 2007 to date. This is in contrast with the 2006 pattern but in line with the trend witnessed in 2004 and 2005."
As of March 14, 2007, 23 rated entities globally were best placed to acquire rising-star status, two more than the number reported in February and three more than the count one year ago. Together, these 23 entities constitute US$38.4 (EU29.1) billion in rated debt.
The report is available to subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com . If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-9823 or sending an e-mail to [email protected] . The report is also available at www.sandp.com/gfir , listed under Global Fixed Income Research. If you have not previously registered with the site, you will need to do so to access this material. Registration requires minimal information and is free. Members of the media may request a copy of this report by contacting the media representative name provided.
Media Contact:
Mimi Barker
[email protected]
(1) 212 438 5054
Analyst Contacts:
Diane Vazza, New York (1) 212-438-2760