Bangkok--23 Aug--Standard & Poor's Robust growth in emerging markets fueled 10 rising stars in the year to date, according to an article published yesterday by Standard & Poor's. The report, titled "Global Potential Rising Stars," said that this is fewer than the 11 recorded in the U.S. but noteworthy because the rated universe in the emerging markets is considerably smaller (approximately one-third the size) than its U.S. counterpart. "As of Aug. 17, 2007, 32 globally rated entities are well positioned to ascend to investment grade, three more than the number reported in July and a year ago," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group. "Together, these 32 entities account for a total of $156.6 billion in rated debt, of which $98 billion was attributed to sovereigns." Globally, 28 issuers crossed over into investment grade from speculative grade in the year to date, compared with 21 in the comparable period of 2006. This is an increase of two entities since last month's report and affected debt worth US$56.7 (?42) billion. Financials led the charge with eight entities. Both the additions this month—China-based CITIC Group and U.S.-based Phillips-Van Heusen Corp.—were part of our potential rising star list last month. The entities were upgraded primarily because of their sound financial and business profiles. Based on rated debt volume, U.S.-based Freeport-McMoRan Copper & Gold Inc., the second-largest copper producer in the world and a member of the S&P 500, is the largest corporate issuer poised to ascend to investment grade, with US$13.0 billion in rated debt. Ms. Vazza added, "Rising stars have outpaced fallen angels by a margin of six in 2007 to date. This is in contrast with the 2006 pattern but in line with trends in 2004 and 2005." 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, [email protected] Analyst Contact: Diane Vazza, New York (1) 212-438-2760