Bangkok--20 Feb--Standard & Poor's Globally, 44 entities with rated debt totaling US$131.3 (?89.87) billion are listed as potential fallen angels, according to an article published Friday by Standard & Poor's. (Potential fallen angels are entities rated 'BBB-' with either a negative outlook or on CreditWatch with negative implications.) The article, which is titled "Global Potential Fallen Angels," says that this tally is now higher than the annual average counts of potential fallen angels of 39 and 43 recorded in 2007 and 2006, respectively. "Homebuilders and real estate companies are among the lead sectors most vulnerable to crossing the investment grade/speculative grade divide," noted Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group. "Other sectors with a high count of potential fallen angels are forest products and building materials and utilities." By debt volume, the line-up among potential fallen angels is the finance companies, telecommunications, utility, homebuilders and real estate companies, forest products and building materials, and media and entertainment sectors. Only one fallen angel--Canada-based forest products company Norbord Inc.----has been recorded in the year to date, affecting rated debt worth US$637 million. In the corresponding period a year ago, three fallen angels had been recorded out of an annual total of 42. 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 23 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 www.standardandpoors.com. Media Contact: Mimi Barker, New York (1) 212-438-5054, [email protected] Analyst Contact: Diane Vazza, New York (1) 212-438-2760