Bangkok--1 Jun--Standard & Poor's
The number of entities poised to benefit from upgrades reached 395 in May, four more than the number reported in April, and 37 more than 12 months ago, according to an article published today by Standard & Poor's. The report titled, "Upgrade Potential Across Credit Grades And Sectors," stated on a relative basis, the growth rate of potential bond upgrades continues to exceed those of potential bond downgrades. Potential bond upgrades have been on an uptrend since February 2007.
"Financial companies maintained their pre-eminent position among sectors most likely to benefit from upgrades, in line with previous months, and displayed a high percentage of issuers listed with a positive bias," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group. "Within nonfinancials, high technology; telecommunications; chemicals, packaging, and environmental services; and oil and gas exploration and production sectors appeared especially well placed."
In most of these sectors, the proportion of issuers with a positive bias is currently more elevated than has been recorded historically, highlighting the likelihood that companies within these sectors will be upgraded.
Ms. Vazza added that "the highest potential for upgrades were issuers rated 'B+' and 'B', comprising 14% each of total potential upgrades, and of the total, 124 companies are members of various Standard & Poor's equity indices."
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] . Ratings information can also be found on Standard & Poor's public Web site at www.standardandpoors.com ; under Credit Ratings in the left navigation bar, select Find a Rating, then Credit Ratings Search. 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
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Analyst Contact:
Diane Vazza, New York (1) 212-438-2760
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries. Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com .
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