More NewsGreater Likelihood of More Global Fallen Angels

Greater Likelihood of More Global Fallen Angels

Fallen angels (an issuer whose credit rating falls to double-‘B’-plus and below from triple-‘B’-minus and above, hence making the move to the speculative-grade rating category from the investment-grade rating category) are flourishing under the same ‘modest’ and ‘uneven’ economic recovery that is causing rising stars to dwindle, Standard & Poor’s said.’Globally, the annual total number and dollar value of fallen angels this year will rival those of 2001, possibly continuing the six-year trend of increasing fallen angels. At present, Standard & Poor’s has identified 69 issuers around the globe that have fallen angel potential. This is six more than identified two months earlier,’ said Diane Vazza, Standard & Poor’s head of Global Fixed Income Research. In the near term, the potential number of fallen angels globally could remain high with Outlooks and CreditWatch implications on global corporate ratings 29% negative, 63% stable, 1% developing, and only 7% positive. The brokerage and aerospace & defense subsectors have the cloudiest forecasts with 56% and 52% of issuers within their subsector distributions, respectively, having either a negative Outlook or a CreditWatch with negative implications.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha