S&P: number of fallen angels rises slightly to 10 through April 11

By Angela McDaniels

Seattle, April 12 - Standard and Poor's said it downgraded 10 issuers to speculative grade (BB+ and lower) from investment grade (BBB- and higher) for 2006 through April 11 - three more issuers than last month. The 10 fallen angels had rated debt worth $12.6 billion.

"As of April 11, there were 47 entities globally at risk of becoming fallen angels, with rated debt totaling $62.5 billion," Diane Vazza, head of S&P's global fixed-income research group, said in an agency release.

"This is three more than the 44 reported a month ago but three fewer than the number reported one year ago."

The agency said the sectors most vulnerable to generating fallen angels by count are media and entertainment, retail/restaurants and capital goods.

© 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.