Bangkok--12 Apr--Standard & Poor's Ratings
According to Standard & Poor's Ratings Services' new report, "Global Corporate And Sovereign Rating Actions: First Quarter 2007," Global corporate credit quality improved in the first quarter of 2007 reversing its trend of mild deterioration witnessed in 2006, with upgrades ending ahead of downgrades for the first time since the third quarter of 2005.
"Most major regions-the U.S., Europe, and emerging markets-saw improvements in credit quality, although in the U.S., upgrades are still lower than downgrades," noted Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group.
Globally, 124 upgrades and 109 downgrades were logged among globally rated corporates in the first quarter of this year, compared with 121 upgrades and 122 downgrades in fourth-quarter 2006 and 111 upgrades and 123 downgrades in the first quarter of 2006. The global corporate downgrade ratio-defined as the ratio of downgrades to total rating actions-deteriorated to 47% in first-quarter 2007 from 50% in the preceding quarter and 53% recorded in the first quarter of 2006.
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, New York (1) 212-438-5054, [email protected]
Analyst Contact:
Diane Vazza, New York (1) 212-438-2760