Bangkok--8 Nov--Standard & Poor's Standard & Poor's has published its latest "Global Potential Rising Stars," report, which states that the gap between Fallen Angels and Rising Stars is now closed. This is unsurprising in light of the accelerated challenges in the financial markets. As of Oct. 19, 2007, 31 globally rated entities are well positioned to ascend to investment grade—the same as the number reported in September and one less than a year ago. Together, these 31 entities account for a total of US$152.7 (?106.8) billion in rated debt, of which US$96.5 (?67.4) billion was attributed to sovereigns. Two new issuers joined the potentials list this month. Global potential rising stars are defined as entities that are currently rated 'BB+' with either a positive outlook or with ratings on CreditWatch with positive implications. "Globally, 30 issuers have entered into investment-grade territory from speculative-grade in the year to date, compared with 26 in the comparable period of 2006, affecting debt worth US$57.4(?40.1) billion," said Diane Vazza, head of Standard & Poor's Global Fixed Income research Group. Emerging market financials led the charge with eight entities. "The only rising star added this month is Canada-based Western Oil Sands Inc., a member of our potential rising stars list last month." The trend in 2007 reverses the 2006 pattern when rising stars trailed fallen angels. As of Oct. 19, 2007, rising stars equaled fallen angels, each recording 30 entities. Globally, sectors displaying the highest number of potential rising stars included utilities, insurance, and sovereigns, with three entities each. 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