Standard & Poor's Leveraged Matters
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Standard & Poor's Leveraged Matters

         Nov. 2, 2011

Default, Transition, and Recovery: U.S. Credit Metrics Monthly: Default Rate Rises To An Estimated 2.13% In October

The better-than-expected third-quarter U.S. GDP numbers was welcomed news to investors. However, this was offset by the recent news of the possibility of a failed Greek referendum, which reignited worries about the sovereign debt crisis in Europe. In the meantime, there were seven U.S. corporate defaults in October--four of which were rated speculative-grade as of Nov. 1, 2010, and, therefore, were included in our default rate estimate.

Default Study: Project Finance Default And Recovery Trends Around The World

Standard & Poor's Rating Services has rated more than 500 project finance debt issues from over 440 different issuers around the globe since 1991. The annual growth rate in rated debt between 1991 and 2008 was roughly 30%. Since then, growth has declined due to poor economic conditions and reduced credit availability.

The Credit Outlook On For-Profit Hospital Companies Is Stable--For Now

Standard & Poor's Ratings Services' credit outlook for the U.S. for-profit hospital sector is generally stable for at least the next year, as our stable rating outlooks on 87% of our 15 rated corporate hospital companies illustrates. High reimbursement risk at a time when the government feels great pressure to cut spending largely offsets any positive rating momentum in the sector that may otherwise have been achieved from several companies recently reducing debt leverage.

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Leveraged Ratings

Bank Loan Ratings (BLRs) And Recovery Ratings
(Monthly List - Excel)

Bank Loan Ratings (BLRs) And Recovery Ratings
(Comprehensive List - Excel)

Chart Of The Week

LM_110211

With the large LBO deal for Kinetic Concepts firmly in the rearview mirror and a eurozone debt deal that assuaged concerns at least for the time being, the loan market rocketed ahead last week. Of course, there were few new issues to take advantage of the market’s hard-won optimism. Learn more

Featured Analysis

Recovery Report: RegionalCare Hospital Partners' Recovery Rating Profile

Recovery Report: Tandus Flooring Inc.'s Recovery Rating Profile

Recovery Report: Global Tel*Link's Corp.'s Recovery Rating Profile

Recovery Report: Open Solutions Inc.'s Recovery Rating Profile

Recovery Report: ARINC Inc.'s Recovery Rating Profile

Recovery Report: Recovery Report: TPC Group LLC's Recovery Rating Profile

Recovery Report: D.R. Horton Inc.'s Recovery Rating Profile

Recovery Report: Tata Steel UK Holdings Ltd.'s Recovery Rating Profile

Recovery Report: Aspect Software Inc.'s Recovery Rating Profile

Recovery Report: Logan's Roadhouse Inc.'s Recovery Rating Profile

Recovery Report: Deluxe Entertainment Services Group Inc. Recovery Rating Profile

Recovery Report: VeriFone Systems Inc.'s Recovery Rating Profile

Recovery Report: Netflix Inc.'s Recovery Rating Profile

Recovery Report: Visant Holding Corp.'s Recovery Rating Profile

Recovery Report: Advanstar Inc.'s Recovery Rating Profile

Recovery Report: Media General Inc.'s Recovery Rating Profile

Recovery Report: WESCO International Inc.'s Recovery Rating Profile

Recovery Report: West Corp.'s Recovery Rating Profile

Recovery Report: Consol Glass (Proprietary) Ltd. Recovery Rating Profile

Recovery Report: SkillSoft Limited's Recovery Rating Profile

Recovery Report: Clearwater Paper Corp.'s Recovery Rating Profile

Recovery Report: Hanger Orthopedic Group Inc.'s Recovery Rating Profile

Recovery Report: MDC Partners Inc.'s Recovery Rating Profile

Recovery Report: Sealed Air Corp.'s Recovery Rating Profile

Recovery Report: Chesapeake Oilfield Operating LLC's Recovery Rating Profile

Recovery Report: Com Hem Recovery Rating Profile

Recovery Report: Stag Bidco Ltd. Recovery Rating Profile

Recovery Report: Ocean Rig UDW Inc. Recovery Rating Profile

Recovery Report: Hovnanian Enterprises Inc.'s Recovery Rating Profile

Recovery Report: PlayPower Holdings Inc.'s Recovery Rating Profile

Recovery Report: Oasis Petroleum Inc.'s Recovery Rating Profile

Recovery Report: Easton-Bell Sports Inc.'s Recovery Rating Profile

Recovery Report: CBRE Services Inc.'s Recovery Rating Profile

Recovery Report: Nuveen Investments Inc.'s Recovery Rating Profile

Recovery Report: Peugeot S.A. Recovery Rating Profile

Recovery Report: Quality Distribution Inc.'s Recovery Rating Profile

Recovery Report: kgb's Recovery Rating Profile

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Retail & Consumer Goods Seminar
Nov. 3, 2011
London

Retail & Consumer Goods Seminar
Nov. 9, 2011
Frankfurt

Infrastructure Finance Conference
Nov. 15, 2011
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Nov. 16, 2011
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Infrastructure Finance Conference
Nov. 17, 2011
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Developing a Corporate Credit Rationale
Dec. 6-8, 2011
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Standard & Poor’s Leveraged Commentary & Data (LCD) delivers unique insight into the leveraged loan market through a combination of data, analysis, commentary and real-time news. Learn more

 

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