Bangkok--2 May--Standard & Poor's Standard & Poor's latest "Downgrade Potential Across Credit Grades And Sectors" report states that the number of entities at risk of downgrades reached a new record of 713 in April, 10 more than in March. "Credit fundamentals have been deteriorating in response to present U.S. recessionary conditions, along with a material slowdown in housing and consumer-related activity," noted Diane Vazza, head of Standard & Poor's Global Fixed Income Research group. The number of potential downgrades is 86 more than reported in the same period a year ago and is 78 more than the average recorded in the year 2007. The upsurge in the count of entities at risk of downgrades began in midsummer 2007 with the onset of a material erosion of the residential real estate sector and large write-downs by financial institutions. Geographically, the U.S. continues to top the list of potential bond downgrades, in part, because of greater credit volatility and also because of a larger rated population. Of the total number of entities, about 67% are based in the U.S. and 17% in Europe. Potential downgrades are defined as entities that have either a negative outlook or ratings on CreditWatch with negative implications across rating categories 'AAA' to 'B-'. The reports are 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 copies of these reports 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 23 countries and markets, 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]