S&P Tweaks Its Criteria for LOC-Backed Issues

Scarchilli, Michael
February 2006
Bond Buyer;2/14/2006, Vol. 355 Issue 32319, p4
Trade Publication
The article reports that Standard & Poor's Corp. has revised its criteria for rating jointly supported obligations, leading to rating upgrades of issues backed by letters of credit nationwide. The agency implemented a fairly significant revision to jointly support criteria using the company's analysis of default-risk correlation and data on speculative-grade risk correlation and data on speculative-grade risk. Jointly supported obligations are generally variable-rate bonds that carry the backing of an additional guarantor.


Related Articles

  • Kenya: New Credit Rating, The Strengths And Weaknesses.  // Emerging Markets Monitor;9/18/2006, Vol. 12 Issue 23, p20 

    The article reports on the credit rating of Kenya as of September 2006. It has received a rating of B+ from Standard & Poor's which could be a signal that the country will tap the international capital markets. The rating is supported by low levels of external debt to GDP, which is around 28.3...

  • St. Vincent Health System in N.Y. Taken Off S&P's Negative Watch. O'Brien, Elizabeth // Bond Buyer;10/20/2005, Vol. 354 Issue 32242, p6 

    Reports that rating firm Standard & Poor's Corp. has removed from negative Creditwatch its triple-A rating on two series of bonds issued for St. Vincent Catholic Medical Centers in New York. Reason for the upgrade of the upgrade of the credit rating of the hospital; Value of the bonds affected...

  • On comparing the accuracy of default predictions in the rating industry. Kr�mer, Walter; G�ttler, Andr� // Empirical Economics;Mar2008, Vol. 34 Issue 2, p343 

    We consider 1927 borrowers from 54 countries who had a credit rating by both Moody�s and S&P at the end of 1998, and their subsequent default history up to the end of 2002. Viewing bond ratings as predicted probabilities of default, we consider partial orderings among competing probability...

  • S&P and Fitch give Egg Banking a break. N. C. // Asset Securitization Report;9/11/2006, Vol. 6 Issue 34, p18 

    The article focuses on delayed reaction of credit rating agencies, Fitch Ratings Inc. and Standard & Poor's Corp. in the U.S., over the review for downgrade of Egg Banking's Pillar Master Trust. The two agencies announced that they did not intend to take any immediate ratings. Moreover, they...

  • S&P Launches Ratings IQuery To Enable Advanced Searches. O'Connor, Katie // Bank Loan Report;6/20/2005, Vol. 20 Issue 24, p10 

    Features the Web-based credit ratings product called Ratings IQuery from Standard & Poor's Corp. in the U.S. Function of the product which provides a more sophisticated tool to analyze the company's data and research; Use of Ratings IQuery for custom research; Advantages of the tool.

  • OhioHealth Outlook Change. Carvlin, Elizabeth // Bond Buyer;5/3/2006, Vol. 356 Issue 32373, p35 

    The article reports on the assessment of the Standard & Poor's Securities Inc. on May 1, 2006, which changed from stable to positive from bonds issued through Franklin County, Ohio on behalf of OhioHealth Corp. According to Standard & Poor's credit analyst Brian Williamson, the hospital system's...

  • Nevada Scores Its 3d AA-Plus. Cohen, Jackie // Bond Buyer;6/26/2006, Vol. 356 Issue 32410, p1 

    The article reports that Standard & Poor's Corp. has upgraded Nevada's general obligation bond rating to AA-plus from AA. The rating action affects outstanding debt of the state. The upgrade reflects the state's gradual diversification of tax revenues beyond the taxes paid by casinos along the...

  • Michigan's GO Outlook Negative. Carvlin, Elizabeth // Bond Buyer;8/11/2006, Vol. 358 Issue 32443, p1 

    The article reports on the economic forecast by Standard & Poor's Corp. on the outstanding general obligation debt of Michigan. For the week ended August 11, 2006, the credit rating agency changed its outlook on the state's debt to negative from stable, citing the repeal of the single business...

  • Imlay City Increase. Carvlin, Elizabeth // Bond Buyer;4/14/2004, Vol. 348 Issue 31862, p33 

    Focuses on the improvement of rating on the limited tax general obligation debt for Imlay City, Michigan to BBB from BBB-minus according to Standard & Poor's Corp.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics