Bangkok--31 Jul--Standard & Poor's This month's count of issuers poised for upgrades fell to 287, 13 fewer than June's count and 106 fewer than 12 months ago, said an article published today by Standard & Poor's. The article, which is titled "Upgrade Potential Across Credit Grades And Sectors (Premium)," says that by comparison, this is the lowest level in the history of this report, including September 2004's 305 entities poised for upgrades and May 2008's tally of 292. On the other hand, potential bond downgrades are still at their highest level in 35 months at 745 entities. "There has been a substantial decline in the total count of the potential bond upgrades since July 2007, the beginning of disruptions in the credit markets," noted Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group. "We expect that the deceleration in potential bond upgrades this month will likely diminish further as factors that support upward momentum weaken." The credit deterioration in the U.S. today compared with 12 months ago is largely the reason for the drop in issuers poised for upgrades, but Europe, albeit to a lesser extent, has echoed this trend as well. Latin America, Eastern Europe/Middle East/Africa, and Canada, on the other hand, have been relatively stable. As global credit quality deteriorates, however, this stability is likely to diminish as well. RatingsDirect is the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com. The standard version of this article is part of our standard Global Fixed Income Research content. The premium version contains expanded analysis of the article's most significant points, typically broken out by sector and region. Also in the premium version are in-depth charts and tables, the underlying data of which are available for download. 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 Contacts: 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]