S&P: Potential Upgrades Gain Ground
December 29, 2009
The number of corporate issuers on the verge of being upgraded increased by seven to 202 in December, according to a report issued today by Standard & Poor’s, a significant rise from March's five-year low of 136 issuers.
The number of potential upgrades exceeds the trailing 12-month average by 38. Upgrades have increased since September, when the number of potential upgrades exceeded the trailing 12-month average for the first time in almost two years.
Potential bond upgrades in the B, B+ and B- rating categories led the list, comprising 43% of the total. BBB-rated bonds were the second largest category, representing 25% of the total.
The current number of potential bond downgrades is 824 securities, down from a record high of 1,028 in April.
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