Bangkok--28 Apr--Standard & Poor's
There have been more upgrades than downgrades so far this year, with 67 upgrades and 60 downgrades through April 19, 2010, said an article published today by Standard & Poor's. The article, which is titled "U.S. Nonfinancial Industries Credit Quality Review: April 2010 (Premium)," says that negative bias continued to decline over the past several months. (Negative bias is the proportion of entities with a negative outlook or ratings on CreditWatch with negative implications.) Negative bias ended March 2010 at 21.2%, the lowest level seen since August 1998, when it reached 19.4%. "Strong economic reports over the last month continue to support our belief that credit quality will slowly improve over the next year," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research Group.
Between the end of February and April 19, the 31 downgrades just barely outpaced the 30 upgrades. Over the past 12 months, speculative-grade downgrades have been most numerous for media and entertainment (65), natural resources (55), and hotel and gaming (49). Sectors with the most investment-grade downgrades are consumer products (nine), homebuilders/real estate companies (five), and aerospace and transportation (five).
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:
Mimi Barker, New York (1) 212-438-5054,
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Analyst Contact:
Diane Vazza, New York (1) 212-438-2760