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Standard & Poor's Fundamentals of Corporate Credit Analysis Blaise, Ganguin
Publisher: McGraw-Hill

Sovereign meaningful economic and fiscal risks and large external debtor position, we now believe that they might not fully offset the credit risks over the next two years at the 'AAA' level,” said Standard & Poor's credit analyst Nikola G. Job News & Advice S&P, Moody's Creating Six-Figure Jobs in Finance. While investment banks are struggling and cutting jobs, ratings agencies such as S&P and Moody's are growing their revenues and hiring. And only point us towards a simpler way of addressing the problem: Standard and Poor's is a self-interested corporate entity and it is acting in accordance with what it perceives its self-interest to be, in precisely the way that self-interested corporate entities will consistently do. Jacuzzi Brands Corporation Appoints New President of Global Spa Business. Perhaps because I'm not an economist, I can't at all interest myself in the question of whether the US “deserved” to have its credit rating downgraded (as Standard and Poor's has done). Government's rating does not serve as a ceiling for all other credit ratings in the U.S., so corporate and municipal issuers could have AAA ratings even though the U.S. Standard & Poor's Ratings Services said today that it affirmed its 'AAA' long-term and 'A-1+' short-term sovereign credit ratings on the U.S. Standard & Poor's also said that it revised its outlook on the long-term rating of the U.S. Because such debt carried top credit ratings from firms such as Standard & Poor's, few financial executives paid attention to the potential dangers. 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. Even after being shown errors in its analysis raised “fundamental questions about the credibility and integrity of S&P's ratings actions.” .. In July of 2001, S&P published a public bond default study which found that public bonds default at much lower rates than corporate bonds of similar or higher credit ratings. Big headlines won't change the fundamentals of the economy. Assistant Treasury secretary for economic policy, said in a blog post the decision to downgrade the U.S. Government's S&P rating is AA+. Second, investors that do rely on credit ratings can almost always choose amongst a variety of credit rating agencies, or just conduct their own credit analysis.