Bangkok--6 Dec--Standard & Poor's U.S. manufacturing activity expanded at a modest rate in November, as reported by The Institute for Supply Management (ISM), according to an article published yesterday by Standard & Poor's. The report, titled "U.S. Credit Comment: Weakness In Manufacturing Sector Pressures Corporate Credit Quality (Premium)," says that the ISM index for the manufacturing sector edged down for the fifth consecutive month to 50.8 in November from 50.9 reported in October, slightly above the 50 point threshold marking an expansion for the 10th consecutive month. "The bond market seemed to take the ISM report in stride, as the slight weakening of the manufacturing sector outweighed potential inflationary pressures to leave investors' expectations for the Dec. 11 FOMC meeting relatively unchanged," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group. "While inflationary pressures remain elevated, with the prices-paid index moving up sharply by 4.5% to 67.5%, the bond market seemed to focus on weakening economic conditions and continued risks in the financial sector." The report is available to RatingsDirect subscribers who have upgraded their package to include the Global Fixed Income Research add-on. RatingsDirect is 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 with the Global Fixed Income Research add-on, please contact your local Standard & Poor's representative or [email protected] for further information. 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 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. Key Contacts: Americas Media Relations: (1) 212-438-6667 media_ [email protected] Americas Customer Service: (1) 212-438-7280 [email protected]