Bangkok--30 Dec--Standard & Poor's
Upgrades have outpaced downgrades 36 to 33 for U.S. nonfinancial industries since the end of October, said an article published today by Standard & Poor's, titled "U.S. Nonfinancial Industries Credit Quality Review: December 2009 (Premium)."
"Negative bias, which is the proportion of entities with a negative outlook or ratings on CreditWatch negative, has declined for nine consecutive months, and it hit 26.6% on Dec. 22, below the eight-year average," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group.
The pace of downgrades has eased and the number of upgrades has edged up in recent months. Downgrades total 680 on a 12-month-trailing basis. Speculative-grade-rated issuers have seen the most downgrades, at 605, while investment-grade-rated companies have had 75.
"Nonfinancial upgrades have been relatively sparse over the past 12 months, totaling only 144," said Ms. Vazza. "However, upgrades have picked up over the past several months, with 77 upgrades since the end of August."
This article is part of our premium Global Fixed Income Research content, which is available to premium subscribers to RatingsDirect on the Global Credit Portal at www.globalcreditportal.com and to RatingsDirect at www.ratingsdirect.com. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
Media Contact:
Ana Sandoval, New York (1) 212-438-5095,
[email protected]
Analyst Contact:
Diane Vazza, New York (1) 212-438-2760