กรุงเทพฯ--14 ก.ค.--Standard & Poor's
Standard & Poor's Ratings Services downgraded 109 global corporate issuers and upgraded 124 in the second quarter of 2010. This brought the downgrade ratio to 47%--the same as in second-quarter 2007, said an article published today by Standard & Poor's Global Fixed Income Research, titled "Global Corporate And Sovereign Rating Actions: Second-Quarter 2010 (Premium)."
"The decline in downgrades during the current recovery period is much faster than what we saw following the previous two recessions in 1990/1991 and 2001," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research. (Standard & Poor's economists' predict that the most recent recession ended in third-quarter 2009.)
"In addition, outlooks appear to be more stable than they were during the previous recovery," said Ms. Vazza. "Negative bias declined to 21% at the end of second-quarter 2010 from its peak of 37% in April 2009, which suggests that credit markets likely will continue to move toward stability."
We define negative bias as the proportion of issuers with a negative outlook or ratings on CreditWatch negative.
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,
[email protected]
Analyst Contact:
Diane Vazza, New York (1) 212-438-2760