Bangkok--29 Dec--Standard & Poor's
The number of global issuers poised for downgrades continued its decline this month to 824 issuers from 869 issuers last month, according to an article published December 24, 2009 by Standard & Poor's. The article, which is titled "Downgrade Potential Across Credit Grades And Sectors (Premium)," says that this is the lowest tally in the last 14 months. "This decrease is largely because of an increase in the number of companies downgraded and assigned stable outlooks," noted Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group.
The automotive and media and entertainment sectors showed the largest change in negative bias, narrowing 4% each since last month. Consumer products and retail and restaurants followed a similar trend, with a 3% decline in negative bias over last month and 8% and 5% respective increases in the downgrade ratio. "Although there were downgrades in all sectors, banks displayed the highest downgrade propensity, closely followed by media and entertainment, insurance, consumer products, and utilities," Ms. Vazza noted.
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