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Standard & Poor's Fundamentals of Corporate Credit Analysis by Blaise, Ganguin

Standard & Poor's Fundamentals of Corporate Credit Analysis Blaise, Ganguin ebook
Publisher: McGraw-Hill
Format: pdf
ISBN: 0071454586,
Page: 463

It's totally fair for S&P to factor politics into their assessment of sovereign debt. Because such debt carried top credit ratings from firms such as Standard & Poor's, few financial executives paid attention to the potential dangers. Credit rating for firms have been used for over 100 years to provide the service of analysing the associated risk in sovereign and corporate debt instruments. While S&P, Moody's and the other mainstream ratings agencies have done a pretty good job on corporate and municipal debt ratings over the past century and more, when it comes to sovereigns and other highly politicized situations, their records are rather poor, if you'll forgive the But in the world of sovereign debt, S&P is forced to evaluate many more subjective facts than are involved in a simple analysis of the probability of default of, say, General Electric or IBM. Meanwhile, Moody's Investors Service says sovereign credit fundamentals in Southeast and South Asia should remain relatively resilient to headwinds during 2013, but warned that each country would face its own specific problems. The ratings that credit rating agencies such as Fitch, Moody's and Standard & Poor present are market opinion on the relative credit risk associated with particular firms or nations. You would think with the way that CNBC handled the earnings releases this week (starting with Alcoa) and then the earnings pre-announcements from Cummins (CMI) and such mid-week, and with Bespoke as well as S&P Capital IQ company negative revisions continue to outnumber positive, I still think q2 '12 earnings will not only be ok, but will demonstrate that the bearish sentiment is out-of-whack with bottoms-up company fundamentals, within the S&P 500. Assistant Treasury secretary for economic policy, said in a blog post the decision to downgrade the U.S. Jacuzzi Brands Corporation Appoints New President of Global Spa Business. Releasing a report card into banks across Asia, S&P credit analyst Gavin Gunning said Australia's banks stood out in the region because of their heavy dependence on offshore funding. €�Because Australian… banks are large borrowers on The Corporations Act is crystal clear in this respect: you are an insolvent institution if you cannot pay your debts “as and when they become due and payable”. Standard & Poor's Fundamentals of Corporate Credit Analysis Reviews. Will be vulnerable to the sluggish economic growth apparent in the major developed markets, and to China's lower plateau for GDP growth," says Simon Wong, a vice president and senior analyst with Moody's Corporate Finance Group. Investors use these respected opinions to gauge their analysis on the consistent methodology used in the analyse by agencies. "The change to a stable outlook on SLF is driven primarily by the improvement in Sun Life's after-tax net operating income to $1.679 billion in 2012," said Standard & Poor's credit analyst Robert Hafner. Even after being shown errors in its analysis raised “fundamental questions about the credibility and integrity of S&P's ratings actions.” ..