S&P: Global downgrade potential falls to five-year low of 594 issuers

By Angela McDaniels

Tacoma, Wash., July 30 - Standard & Poor's said that the number of global issuers poised for downgrades continues to decline.

"As of July 26, 2010, 594 issuers had a negative outlook or ratings on CreditWatch negative, down from the record high of 1,028 a year ago," Diane Vazza, head of S&P's global fixed-income research, said in an agency news release.

"This decrease is largely the result of more downgrades, followed by outlook revisions to stable, as global economies and markets are more supportive of stable - though still weak - credit quality than they were a year ago, despite recent developments in Europe."

The agency said the current tally of 594 issuers poised for downgrades is the lowest since its series began in September 2005. It's also 237 fewer than the average of the trailing 12 months and 371 fewer than the total a year ago.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.