GUIDE TO CREDIT RATING ESSENTIALS
Find out what credit ratings are, and are not, who uses them, and how they may be useful to the capital markets.
Find out what credit ratings are, and are not, who uses them, and how they may be useful to the capital markets.
Paul Coughlin, executive managing director, global analytics and operations, clarifies how our ratings can codify credit risk, serve as comparable benchmarks across markets, and provide insight ahead of the markets.
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In this CreditMatters TV segment, Executive Managing Director Paul Coughlin discusses the findings of this survey, as well as the role of credit ratings in the research processes of those surveyed.
00:11:53 min
What exactly is a Standard & Poor's corporate credit rating, and what role does it play in the global financial markets?
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Pension plan boards play an important role in establishing appropriate risk management policies for their organizations.
This report summarizes our definition of models, briefly describes what S&P's models are and are not used for, and discusses in general terms our view on methods of combining qualitative and quantitative considerations in the ratings process.
Today, Standard & Poor's Ratings Services published revised ratings definitions. The ratings definitions explain the meaning of our ratings symbology, and what the ratings mean. This revision accomplishes two important goals.
In this article, Standard & Poor's examines the advantages and disadvantages of several ratings business models.
A recently published discussion paper by Prof. Manfred Gärtner and Björn Griesbach of the University of St. Gallen repeats many common misconceptions about capital markets and rating agencies.
Standard & Poor's Ratings Services has updated its data on the performance and default rates of sovereign ratings through year-end 2012.
One hundred fourteen corporate (including financial institution) and local or regional government (LRG) ratings exceed the rating on the sovereign in the country of domicile, on a foreign-currency basis.
The federal sequestration cuts that took effect on March 1 and Washington's deadline to prevent nonessential governmental functions from shutting down could have far-reaching, although probably shallow, effects on the U.S. economy.
On March 19, Cyprus' parliament rejected the conditions of the multilateral assistance program (Program) attached to a €10 billion loan agreed on March 16 between Cyprus' government and eurozone members.
The concept of sovereign default risk is not a new one, of course, with many high-profile defaults having occurred throughout history, including in the recent past the Latin American crisis in the 1980s and the Russian crisis in 1998.
In this CreditMatters TV segment, Managing Director Marie Cavanaugh discusses the characteristics of rated sovereigns prior to default.
2/15/13 | 16:08
In this CreditMatters TV segment, John Chambers, chairman of Standard & Poor’s sovereign rating committee, discusses the implications of the fiscal cliff negotiations on the U.S. sovereign rating.
11/12/12 | 01:50
In this CreditMatters TV segment, Standard & Poor's Managing Director Moritz Kraemer discusses our outlook for the sovereign ratings in the Eurozone.
11/2/12 | 00:14:29 min
WATCH
Diane Vazza, managing director and head of Global Fixed Income Research, discusses what the Standard & Poor's 2012 Annual Global Corporate Default Study entails, its key findings, and why investors use it.
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GUIDE TO RATINGS PERFORMANCE
"The overall consistency of rating performance demonstrated by our default and credit rating transition studies we believe has helped to establish S&P's ratings as useful benchmarks of relative credit risk."
"The overall consistency of rating performance demonstrated by our default and credit rating transition studies we believe has helped to establish S&P's ratings as useful benchmarks of relative credit risk."
Standard & Poor's calculates its U.S. distress ratio by dividing the number of distressed securities by the number of speculative-grade-rated issues.
5/25/12 | 00:03:59 min
In this CreditMatters TV segment, Senior Director Peter Rigby discusses whether credit spreads measure credit risks.
12/13/10 | 00:10:43 min
Standard & Poor’s recently completed its five-year study comparing recovery ratings at the point of origination and default.
2/6/13 | 00:02:52 min
In the full year, 84 global corporate issuers defaulted, up from 53 in 2011 and nearly the same as the 2010 total of 83. These 84 defaulted issuers accounted for a total of $86.7 billion in debt, up from $84.3 billion in 2011.
Corporate credit ratings, outlooks, and CreditWatch listings serve as useful benchmarks for the cost of debt. When looking at data from 1945 to February 2011, Standard & Poor's observes a close relationship between borrowing costs and credit ratings.
Standard & Poor's Ratings Services is committed to maintaining the comparability of its ratings across asset classes and geographies.
Investors in structured finance securities remain highly focused on 'AAA' ratings—and consequently, so do issuers. But with banking system and sovereign risks recently increasing, 'AAA' ratings are becoming more difficult to achieve.
The global economic and financial downturn that began in the U.S. in late 2008 has proven to be the most severe since the Great Depression. The downturn's negative effects are still being felt globally in the form of higher default rates, higher costs of
GUIDE TO CREDIT RATINGS CRITERIA
Find out what S&P’s credit ratings criteria are, how they are applied in the rating process, and how our criteria are governed and refined over time.
Find out what S&P’s credit ratings criteria are, how they are applied in the rating process, and how our criteria are governed and refined over time.
Easy access to CMBS articles including two recently published Request for Comment articles outlining proposed changes to our ratings criteria for commercial mortgage-backed securities (CMBS) transactions.
Articles and information related to our recently updated ratings criteria for U.S. residential mortgage-backed securities (RMBS) transactions.
Standard & Poor's Ratings Services is clarifying its criteria for recognizing credit stability as an important rating factor. We are publishing this article to help market participants better understand how credit stability is incorporated in our ratings.
A collection of the related criteria documents, supporting commentaries, and related videos, media releases and rating reports, as well as an interactive PDF that illustrates our bank ratings framework in a very clear and concise way.
Standard & Poor's credit ratings are designed primarily to provide relative rankings among issuers and obligations of overall creditworthiness; the ratings are not measures of absolute default probability.
Standard & Poor's Managing Directors Rodney Clark and Emmanuel Dubois-Pelerin discuss broadly what the objectives are and why we are taking this action now. They also discuss what the next steps are before the criteria is finalized and the
7/10/12 | 00:06:35 min
