Potential fallen angels are issuers rated 'BBB-' with either a negative outlook or ratings on CreditWatch negative.
In comparison, a total of 14 issuers are potential rising stars--rated 'BBB-' with a positive outlook or ratings on CreditWatch positive--with debt worth US$24.46 (?19.91) billion.
Since our most recent report, we removed two issuers from our list of potential fallen angels. Both were the result of Standard & Poor's removing its ratings on the companies from CreditWatch negative and assigning stable outlooks. We also added three issuers to our list of potential fallen angels since our previous report.
"Sectors poised to lead fallen angel incidence are banks with 14 issuers, followed by consumer products with eight and insurance and transportation with six each," said Diane Vazza, head of Standard & Poor's Global Fixed Income Research.
"Our year-to-date 2010 tally of fallen angels remains unchanged from our most recent report at nine issuers, accounting for US$386.27 billion, or ?323.96 billion, in rated debt," said Ms. Vazza.
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Media Contact:
Mimi Barker, New York (1) 212-438-5054, [email protected]
Analyst Contact:
Diane Vazza, New York (1) 212-438-2760