S&P expands industrials ratings to five groups

By Jennifer Chiou

New York, Oct. 17 - Standard & Poor's announced it has expended its U.S. industrials ratings to five groups and appointed three additional regional practice leaders.

Previously, there were three industrials ratings areas.

Steven Dreyer and Kenneth Drucker, both managing directors, along with Andrew Watt, as director, will join managing directors Thomas Kelly and Nicholas Riccio.

The agency's industrials group will now be comprised of:

• Commodities and Basic Industries, including chemicals, packaging, environmental waste, forest products, metals & mining, building materials, oil and gas production, refining, and services companies, headed by Watt;

• Consumer, Retail and Healthcare, including consumer products, retailing and restaurants, and healthcare companies, headed by Drucker;

• Manufacturing and transportation, including automotive and auto suppliers, aerospace & defense, capital goods, and transportation firms, headed by Kelly;

• Technology, Media and Telecom, including technology, media and entertainment, lodging and gaming, telecommunications and cable companies, headed by Riccio; and

• Utilities, including regulated electric utilities, gas and water utilities, transmission companies, merchant energy companies, midstream and interstate oil and gas pipelines, and project finance, headed by Dreyer.

All will report to managing director John Bilardello, manager of the global industrials business ratings unit.

"The larger management team reflects the growth in size and complexity of Standard & Poor's industrials ratings group over the past five years," Bilardello said in a release.

"In this period, the number of entities rated by the U.S. industrials team and the analytical and research staff have grown, while our analytical, surveillance and communication standards have increased substantially."

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