Bangkok--30 Jan--Standard & Poor's
Globally, rising star potential remains unchanged at 14 issuers, constituting US$16.71 (?12.66) billion in rated debt, according to an article published today by Standard & Poor's, titled "Global Potential Rising Stars (Premium)."
By comparison, this is just two more issuers than the 50-month low of 12 issuers in July 2008. (Global potential rising stars are defined as entities that are rated 'BB+' with either a positive outlook or with ratings on CreditWatch with positive implications.)
"Meanwhile, the count of entities about to cross over in the opposite direction, known as potential fallen angels, is elevated at 65," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group. "This is unsurprising given crossover credits' generally corroborative relationship with the broader economy."
In 2008, 40 issuers globally crossed over to investment grade from speculative grade, affecting debt worth US$171.5 (?130.08) billion, more than one-third of which is attributed to the sovereign rating change on the Federative Republic of Brazil. This compares with a tally of 36 issuers in 2007, with total rated debt worth US$71.81 (?54.39) billion.
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 Ratings in the left navigation bar, select Find a Rating. Members of the media may request a copy of this report by contacting the media representative provided.
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