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

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

"We believe the downfall of Lehman reflected escalating fears that led to a loss of confidence - ultimately becoming a real threat to Lehman's viability in a way that fundamental credit analysis could not have anticipated with greater levels of certainty. Managing enterprise-wide risks and capitalizing on opportunities are fundamental responsibilities of senior executives at all firms. Credit ratings published by Moody's, Standard and Poor's and Fitch are meant to capture and categorize credit risk. A simple analysis of the company's initial ratings of debt offerings compared to later ratings of the same offerings would probably show a pattern of nothing but no changes or downgrades. S&P upgrades Reliance Ind's long-term credit rating. "The tender offers will reduce debt and lower interest costs, and Ford has stated that annual interest savings will be more than $500 million," said Robert Schulz, an S&P credit analyst, in a statement. 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. S&P issued credit ratings on more than $2.8 trillion of residential mortgage-backed securities and about $1.2 trillion of collateralized-debt obligations from September 2004 through October 2007, according to the complaint. Investors use these respected opinions to gauge their analysis on the consistent methodology used in the analyse by agencies. Ratings agency Standard & Poor's on Wednesday raised the long term corporate credit rating on Reliance Industries to "BBB+" from "BBB", with a "negative" outlook, it said in a statement. Posted by KVSSNRao at 12:20 AM. However, institutional investors in corporate bonds often supplement these agency ratings with their own credit analysis. 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. Health care and education, as well as massive public sector layoffs at all levels, threatening our default on debt obligations, while demanding that the rich and the corporations pay not a single additional dime in revenue. Standard & Poor's Fundamentals of Corporate Credit Analysis (Hardcover) by Blaise Ganguin (Author), John Bilardello (Author) 2005 McGraw Hill Co. The Financial Services division represented 44% of revenues and 73% of operating profit in 2009. 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. Dreyer and Amra Balic, “Progress Report: Integrating Enterprise Risk Management Analysis into Corporate Credit Ratings,” Standard & Poor's RatingsDirect, July 22, 2009. Integration into Credit Ratings Related Materials. 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.