S&P: Year-To-Date Tally Of Rising Stars, Fallen Angels Outpace 2010
June 22 2011 - 9:34AM
Dow Jones News
DOW JONES NEWSWIRES
Standard & Poor's Ratings Services said the tally of both
rising stars and fallen angels have outpaced the number of
companies swinging to and from an investment-level grade last
year.
The ratings agency said it upgraded three issuers to investment
grade from speculative grade since May 13, bringing the total
number of rising stars this year to 19, nearly double the amount
for the same period in 2010. The three new rising stars are
Brenntag AG (BNTGF, BNR.XE), Macy's Inc. (M) and Wilmington Trust
Corp.
S&P downgraded three companies to speculative grade from
investment grade, raising the number of global fallen angels to 21,
one more than the total for all of 2010. The three new fallen
angels are R.R. Donnelley & Sons Co. (RRD), ACOM Co. (8572.TO)
and Tokyo Electric Power Co. (9501.TO).
-By Melodie Warner, Dow Jones Newswires; 212-416-2283;
melodie.warner@dowjones.com
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