Bangkok--23 Mar--Standard & Poor's
Since our most recent fallen angels report, Standard & Poor's Ratings Services downgraded one issuer, Greek power company Public Power Corp. S.A., to speculative grade ('BB+' and lower) from investment grade ('BBB-' and higher).
This brings the 2010 year-to-date tally of fallen angels to two issuers, accounting for rated debt worth US$1.35 (?0.99) billion, according to an article published today by Standard & Poor's Global Fixed Income Research, titled "Global Potential Fallen Angels (Premium)."
"Our tally of global potential fallen angels remains unchanged since our previous report at 71 issuers with US$202.16 billion, or ?148.28 billion, in rated debt," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research.
These issuers are rated 'BBB-' and have either a negative outlook or ratings on CreditWatch negative. Since this past month, we removed six issuers from our list and added another six.
"Sectors poised to lead fallen angel incidence are banks with 16 entities, followed by consumer products with 10 and transportation with six," said Ms. Vazza.
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 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:
Mimi Barker, New York (1) 212-438-5054,
[email protected]
Analyst Contact:
Diane Vazza, New York (1) 212-438-2760