Fallen angels rise to 39 for 2005, ahead of last year but fewer companies at risk, S&P says

New York, Dec. 8 - The number of fallen angels rose to 39 for 2005 through Dec. 6, Standard & Poor's said.

The total is ahead of the 24 at the same point last year - although the dollar amount is far higher at $514.1 billion this year compared with $53.1 billion at the same point in 2004.

However the number of companies considered potential fallen angels by the rating agency is now 46, down from the 49 reported a month earlier and four below the tally a year ago.

Potential fallen angels are issuers rated BBB- and on CreditWatch negative or have a negative outlook.

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