Credit Trends Downgrade Potential Declined By Over One-Third In The Second Quarter S P Global
Key Takeaways
5 potential downgrades (S & amp; p global ratings are rated as "B-" from "AAA", and the Credit Watch rating with a negative or negative meaning) is 5. As of the 31st of the month, as of June 30, 2021, 671 stocks decreased by 86 stocks, lowering the 1. 365 stock, the upper limit of July 2020. Of the 122 exclusions from the bonds of the bonds, 108 were due to the Outlook correction or the Credit Watch, and 11 were accompanied by a downgrade. The other three companies were downlated without a change in Outlooks and Credit Watch. Despite the change in the Outlook and Credit Watch, there were four issues on the list. Of these, 25 companies were reviewed by outlooks or creditwatches, of which two were accompanied by a downgrade (see Table 1).
Chart 1
The Broad-Based Decline In Negative Bias Indicates A Decelerating Future Pace Of Downgrades
In the second quarter, as a result of the online rating activity turned positive, all sectors, excluding telecommunications, reduced the possibility of lowering and negative bias. In the future, it suggests that the downgrade pace will slow down. In the second quarter of 2021, the pure reduction of financial institutions published in the bond's downgrade possibilities list was the largest at 58 companies, of which 36 were excluded in June (see Chart 2). Of the purity in June, 24 companies occurred in Europe, the Middle East and Africa (EMEA), 22 companies in European developed countries, and two companies in emerging markets in the region. S & amp; Samp; p global rating believes that EMEA's bank risk is alleviated and profits and capital are supported. Most European banks are expected to improve their performance in 2021. Credit impairment costs begin to normalize, and fees will gradually improve due to the recovery of economic activities throughout Europe. < SPAN> Potential downgrade (S & amp; p global ratings rating from "AAA" to "B-", and has a negative or negative meaning of the Credit Watch rating and defined) As of May 31, as of June 30, 2021, 671 stocks decreased by 86 stocks, lowering the 1. 365 stock, the upper limit of July 2020. Of the 122 exclusions from the bonds of the bonds, 108 were due to the Outlook correction or the Credit Watch, and 11 were accompanied by a downgrade. The other three companies were downlated without a change in Outlooks and Credit Watch. Despite the change in the Outlook and Credit Watch, there were four issues on the list. Of these, 25 companies were reviewed by outlooks or creditwatches, of which two were accompanied by a downgrade (see Table 1).
In the second quarter, as a result of the online rating activity turned positive, all sectors, excluding telecommunications, reduced the possibility of lowering and negative bias. In the future, it suggests that the downgrade pace will slow down. In the second quarter of 2021, the pure reduction of financial institutions published in the bond's downgrade possibilities list was the largest at 58 companies, of which 36 were excluded in June (see Chart 2). Of the purity in June, 24 companies occurred in Europe, the Middle East and Africa (EMEA), 22 companies in European developed countries, and two companies in emerging markets in the region. S & amp; Samp; p global rating believes that EMEA's bank risk is alleviated and profits and capital are supported. Most European banks are expected to improve their performance in 2021. Credit impairment costs begin to normalize, and fees will gradually improve due to the recovery of economic activities throughout Europe. 5 potential downgrades (S & amp; p global ratings are rated as "B-" from "AAA", and the Credit Watch rating with a negative or negative meaning) is 5. As of the 31st of the month, as of June 30, 2021, 671 stocks decreased by 86 stocks, lowering the 1. 365 stock, the upper limit of July 2020. Of the 122 exclusions from the bonds of the bonds, 108 were due to the Outlook correction or the Credit Watch, and 11 were accompanied by a downgrade. The other three companies were downlated without a change in Outlooks and Credit Watch. Despite the change in the Outlook and Credit Watch, there were four issues on the list. Of these, 25 companies were reviewed by outlooks or creditwatches, of which two were accompanied by a downgrade (see Table 1).
Chart 2
Nearly 60% Of Potential Downgrades Are Rated Speculative-Grade
In the second quarter, as a result of the online rating activity turned positive, all sectors, excluding telecommunications, reduced the possibility of lowering and negative bias. In the future, it suggests that the downgrade pace will slow down. In the second quarter of 2021, the pure reduction of financial institutions published in the bond's downgrade possibilities list was the largest at 58 companies, of which 36 were excluded in June (see Chart 2). Of the purity in June, 24 companies occurred in Europe, the Middle East and Africa (EMEA), 22 companies in European developed countries, and two companies in emerging markets in the region. S & amp; Samp; p global rating believes that EMEA's bank risk is alleviated and profits and capital are supported. Most European banks are expected to improve their performance in 2021. Credit impairment costs begin to normalize, and fees will gradually improve due to the recovery of economic activities throughout Europe.
Chart 3
The Gap Between Potential Downgrades And Potential Upgrades Is Back To End-2019 Levels, Driven By Positive Net Rating Activity
However, recent bank downgrades and longer-term negative outlooks reflect weakening business models. As of June 30, 29 EMEA financial institutions were facing possible downgrades, including 26 in Europe and three in emerging markets. Of these potentially downgraded institutions, 28 were on negative outlook and only one UK issuer was placed on CreditWatch with negative implications. These longer-term negative outlooks, like the recent downgrades, reflect weakening business models. While the operating environment for EMEA banks is gradually stabilizing, digitalization, low policy rates and shallow yield curves continue to challenge certain banking sectors, businesses and operating models. Profitability trends and credit stories differ across these different banks and markets. (EMEA Financial Institutions Third Quarter Developments: Resilience Amid Search for Strengthened Profitability, July 16, 2021). As of June 30, S& P Global Ratings has assigned negative outlooks to several more financial institutions in the region, led by three in Kuwait after the sovereign downgrade.
Nearly 60% of issuers on the list of potential bond downgrades are rated speculative grade. Media and entertainment has the most downgrades with 95, of which 82% are speculative grade. Other sectors likely to be downgraded include utilities (89, of which 26% are for-profit) and financial institutions (73, of which 41% are for-profit).
Amid the global economic recovery this year, positive rating actions outweighed negative ones. This is in contrast to last year, when negative rating actions predominated due to the impact of the krone and oil price crisis on the economy. The number of potential upgrades for bonds (defined as issuers rated 'AA+' to 'B-' by S& P Global Ratings) rose to 314 at the end of June, up from 299 in the previous month.
Chart 4
Media And Entertainment And Utilities Lead In Potential Downgrades Count And In Downgrade Proportion Over The Past 12 Months
The highest possible upgrade of bonds was 43 in financial institutions, 33 health care, and 31 consumer discretion. Of the published published publishers, 255 companies are designated as a positive outlook, and 59 companies are designated as Credit Watch in a positive manner. The latter is more likely to be upgraded in the short term, and if there is a possibility that the rating will be changed within 90 days in the next 90 days, it will be designated as Credit Watch. ("S & amp; amp; p Global Ratings Definitions" January 5, 2021). By industry, media entertainment is the most likely to be upgraded, with 11 Credit Watches with positive implications, followed by 10 hig h-tech companies. In this way, both sector accounts for over 40 % of upgraded candidates as the most likely sector that is likely to be upgraded soon.
Chart 5
Chart 6
Table 1
| As a result of the decrease in the possibility of downgrade and increased upgrade, the difference between the two was on e-third of the record high in July last year (see Chart 4). | ||||||||
|---|---|---|---|---|---|---|---|---|
| As of June 30, the number of publishers published in our list was reduced by 15 companies from the previous month to 95, but media entertainment continued to lead. Due to the special vulnerability of pandemic (global trends) and the special vulnerability of the way of collecting social distance, the media entertainment sector has continued to take the initiative in potential downgrades, and the highest rate of the highest in the past 12 months. Is recorded (see Chart 6). | Most companies have been added and deleted with the revision of Outlooks and creditwatches. | |||||||
| --Possibility of bonds | --Metails that may decline bonds | Reasons for exclusion | --Metails that may decline bonds | |||||
| Reasoning reason | 97 | Reasoning reason | 23 | |||||
| OLCW change | 11 | OLCW change | 7 | |||||
| Changed in case of downgrade / OLCW | 9 | OLCW change | 2 | |||||
| Changed in case of downgrade / OLCW | 3 | Reduction and OLCW change | 1 | |||||
| Lowering | 1 | Changed in case of downgrade / OLCW | 0 | |||||
| OLCW change | 1 | Lowering | 3 | |||||
| Parent company | 0 | New rating publisher | 0 | |||||
| Default | 0 | Upgrade | 0 | |||||
| New rating publisher | 0 | |||||||
| Upgrade | 0 | |||||||
| Upgrade | 122 | Upgrade | 36 | |||||
| total | ||||||||
Table 2
| total | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| The data is as of June 30, 2021. OLCW-- Outlook or CreditWatch. source | The most negative contributions to the potential bond of bonds lowering portfolio are media, entertainment, public interest businesses, and financial institutions (%). | Sector | Number of downgrade after 12 months | Ratio (%) of 12 months later (%) | Current Negative Bias (%) | Historical Average Negative Bias (%) | ||||||||
| Gap between Current Negative Bias and Historical Average Negative Bias (%) | 19 | Contribution of Negative Bias to Total Potential Bond Downgrade Portfolio (%) | Aerospace & Defense | 79, 17 | 33. 33 | 21. 43 | ||||||||
| (11. 90) | 89 | 2. 38 | Media & Entertainment | 64, 96 | 36, 20 | 26, 90 | ||||||||
| (9. 30) | 25 | 14. 16 | Transportation | 58, 14 | 29, 57 | 21. 97 | ||||||||
| (7, 60) | 62 | 4. 77 | Oil & Gas | 71, 26 | 26. 06 | 20. 65 | ||||||||
| (5. 41) | 75 | 3. 43 | Utilities | 72, 82 | 22, 96 | 20. 47 | ||||||||
| (2. 49) | 31 | 15. 65 | Home Builders & Real Estate Companies | 55, 36 | 18. 15 | 15. 70 | ||||||||
| (2. 44) | 19 | 5. 66 | Sovereign | 82. 61 | 13. 91 | 21. 43 | ||||||||
| 0. 52 | 8 | Aerospace & Defense | Automobiles | 33. 33 | 26. 00 | 26. 73 | ||||||||
| 0. 73 | 51 | 3. 28 | Consumer Products | 52. 04 | 23. 20 | 25. 03 | ||||||||
| 1. 83 | 15 | 9. 69 | Capital Goods | 41. 67 | 20. 09 | 22. 05 | ||||||||
| 1. 96 | 20 | 4. 62 | Health Care | 40. 00 | 14. 81 | 21. 97 | ||||||||
| 3. 07 | 16 | 4. 77 | Telecommunications | 59. 26 | 17. 02 | 20. 24 | ||||||||
| 3. 22 | 27 | 3. 73 | Chemical, packaging and environmental services | 46, 55 | 13. 57 | 19. 50 | ||||||||
| 5, 93 | 51 | 3. 13 | Financial institutions | 69, 86 | 14. 31 | 20. 26 | ||||||||
| 5, 95 | 6 | 9, 99 | Insurance | 46, 15 | 9. 41 | 16. 58 | ||||||||
| 7. 17 | 21 | 1. 34 | Metals, mining and steel | 65, 63 | 17. 56 | 21. 43 | ||||||||
| 7. 18 | 16 | 2. 38 | Forest products and building materials | 53, 33 | 12. 70 | 22. 50 | ||||||||
| 9, 80 | 18 | 1, 94 | Retail and restaurants | 26, 87 | 15. 34 | 19. 50 | ||||||||
| 9, 98 | 22 | 3. 13 | High technology | 34, 92 | 8. 30 | 21. 27 | ||||||||
| 12. 96 | 3 | 2. 53 | Differentiation | 100. 00 | 100. 00 | Differentiation | ||||||||
| 18. 10 | ||||||||||||||
Table 3
| 0, 00 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Figures as of June 30, 2021. Source | CreditWatch/Outlook Negative Issuers (rated "AAA" to "B-") | Rating | Issuer | Parent | Reasoning reason | New this month | Increase/Decrease OLCW | |||||||||
| Estimate | Country | 1. 96 | Johnson & Johnson | Healthcare | ||||||||||||
| AAA | MA | (5. 41) | Aliander N. V. | Utilities | AA-/Watch | |||||||||||
| AA | Netherlands | (5. 41) | Utilities | Utilities | ||||||||||||
| AA | Germany | (7, 60) | Utilities | Healthcare | ||||||||||||
| AA | United States | (5. 41) | Utilities | Utilities | ||||||||||||
| AA | France | (2. 44) | Utilities | Sovereign | ||||||||||||
| AA | Kuwait | (5. 41) | Utilities | Utilities | ||||||||||||
| AA | Japan | AA/Negative | 5, 93 | Aliander N. V. | Utilities | Japan | ||||||||||
| AA | New Zealand | (5. 41) | Aliander N. V. | A+ | AA-/Watch | |||||||||||
| Netherlands | Netherlands | 1. 83 | A+ | Healthcare | ||||||||||||
| Netherlands | USA | (5. 41) | A+ | Healthcare | ||||||||||||
| Netherlands | USA | A+/ Negative | (9. 30) | Aliander N. V. | A+ | Transportation | ||||||||||
| Netherlands | Australia | 1. 96 | A+ | Healthcare | ||||||||||||
| Netherlands | USA | (5. 41) | A+ | Utilities | ||||||||||||
| Netherlands | Japan | (5. 41) | A+ | China Southern Power Grid Co. | ||||||||||||
| Netherlands | China | 0. 73 | A+ | Healthcare | ||||||||||||
| Netherlands | USA | 0. 73 | A+ | Richemont | ||||||||||||
| Netherlands | Switzerland | (5. 41) | A+ | Utilities | ||||||||||||
| Netherlands | Japan | 1. 96 | A+ | Healthcare | ||||||||||||
| Netherlands | US | (5. 41) | A+ | Richemont | ||||||||||||
| Netherlands | Switzerland | 0. 73 | A+ | Utilities | ||||||||||||
| Netherlands | France | (9. 30) | A+ | Nuts (in the route) PLC | ||||||||||||
| transportation | British | (9. 30) | A | Canadian National Railway | ||||||||||||
| transportation | Canada | 1. 83 | A | Utilities | ||||||||||||
| transportation | Japan | 1. 83 | Aliander N. V. | A | Healthcare | |||||||||||
| Capital | US | (5. 41) | A | Utilities | ||||||||||||
| Capital | France | Gap between Current Negative Bias and Historical Average Negative Bias (%) | A | AA-/Watch | ||||||||||||
| Capital | Netherlands | (5. 41) | Aliander N. V. | A | Canadian National Railway | |||||||||||
| Capital | Canada | (5. 41) | A | Abinol | ||||||||||||
| Capital | Norway | 3. 22 | A | Utilities | ||||||||||||
| Capital | Germany | 0. 52 | A | Utilities | ||||||||||||
| Capital | Germany | 0. 73 | A | Nuts (in the route) PLC | ||||||||||||
| Capital | England | A/ negative | (5. 41) | A | Healthcare | |||||||||||
| Capital | US | A/ negative | 0. 52 | A | China Southern Power Grid Co. | |||||||||||
| Capital | China | (5. 41) | A | EVN AG | ||||||||||||
| Capital | Austria | A/ negative | 5, 95 | A | Transportation | |||||||||||
| Capital | Australia | 0. 73 | A | Healthcare | ||||||||||||
| Capital | US | (2. 44) | A | Kingdom of Spain | ||||||||||||
| Capital | Spain | 5, 93 | A | Nuts (in the route) PLC | ||||||||||||
| Capital | British | (5. 41) | A | Healthcare | ||||||||||||
| Capital | US | Negative | A | Utilities | ||||||||||||
| Capital | Japan | 5, 93 | A | EVN AG | ||||||||||||
| Capital | Austria | 3. 07 | A | Proximus | ||||||||||||
| Capital | Belgium | 5, 95 | A | Qatar Insurance Company Q. S. P. C. | ||||||||||||
| Capital | Qatar | (5. 41) | A | AA-/Watch | ||||||||||||
| Capital | Netherlands | Negative | (5. 41) | A | Healthcare | |||||||||||
| Capital | US | Negative | A | Transportation | ||||||||||||
| Capital | Australia | (7, 60) | A | Surunberger | ||||||||||||
| Capital | courage | Negative | A | Utilities | ||||||||||||
| Capital | Japan | 3. 07 | A | Singapore Tele Correspondence | ||||||||||||
| Capital | Singapore | 5, 95 | A | Richemont | ||||||||||||
| Capital | Switzerland | 5, 93 | A | VP bank | ||||||||||||
| Financial institution | Liechtenstein | Negative | A- | Utilities | ||||||||||||
| Financial institution | Germany | Negative | Aliander N. V. | A- | Construction / real estate company | |||||||||||
| Financial institution | Sweden | 1. 83 | Aliander N. V. | A- | China Southern Power Grid Co. | |||||||||||
| Financial institution | China | A-/Watch Neg | (5. 41) | A- | Nuts (in the route) PLC | |||||||||||
| Public interest business | British | Negative | Aliander N. V. | A- | Transportation | |||||||||||
| Public interest business | Australia | (5. 41) | A- | Canadian National Railway | ||||||||||||
| Public interest business | Canada | 5, 95 | A- | Axis Capital Holdings | ||||||||||||
| Public interest business | Bermuda | (5. 41) | A- | Healthcare | ||||||||||||
| Public interest business | US | 5, 95 | A- | Axis Capital Holdings | ||||||||||||
| Public interest business | Bermuda | (5. 41) | A- | Healthcare | ||||||||||||
| Public interest business | US | Negative | A- | Transportation | ||||||||||||
| Public interest business | Australia | (7, 60) | A- | Nuts (in the route) PLC | ||||||||||||
| Public interest business | British | (7, 60) | A- | Healthcare | ||||||||||||
| Public interest business | US | 1. 96 | Aliander N. V. | A- | Healthcare | |||||||||||
| Public interest business | Applicable | (11. 90) | A- | Healthcare | ||||||||||||
| Public interest business | US | 3. 07 | A- | Utilities | ||||||||||||
| Public interest business | France | A/n | 5, 93 | A- | Finnish savings bank group | |||||||||||
| Public interest business | Finland | (5. 41) | A- | Healthcare | ||||||||||||
| Public interest business | US | (7, 60) | A- | Eni Spa | ||||||||||||
| Public interest business | Italy | Negative | A- | Healthcare | ||||||||||||
| Public interest business | US | Negative | A- | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| Public interest business | Mexico | Negative | 5, 93 | A- | Nuts (in the route) PLC | |||||||||||
| Public interest business | England | 0. 52 | A- | Utilities | ||||||||||||
| Public interest business | Japan | 5, 93 | A- | LQ Inberciones Financial Race S. A. | ||||||||||||
| Public interest business | A/ negative | 5, 93 | A- | Healthcare | ||||||||||||
| Public interest business | A/n | 0. 52 | A- | Canadian National Railway | ||||||||||||
| Public interest business | A/n | 5, 93 | A- | Financial institution | ||||||||||||
| Public interest business | Financial institution | (2. 44) | A- | Financial institution | ||||||||||||
| Public interest business | A/ negative | 5, 93 | A- | Healthcare | ||||||||||||
| Public interest business | A/n | 5, 93 | A- | Utilities | ||||||||||||
| Public interest business | A/n | 5, 95 | A- | Axis Capital Holdings | ||||||||||||
| Public interest business | A/ negative | Negative | A- | Transportation | ||||||||||||
| Public interest business | A/n | 5, 93 | A- | EVN AG | ||||||||||||
| Public interest business | A/n | 0. 73 | A- | Healthcare | ||||||||||||
| Public interest business | Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | A- | Healthcare | ||||||||||||
| Public interest business | A/n | (9. 30) | A- | China Southern Power Grid Co. | ||||||||||||
| Public interest business | A/n | (5. 41) | A- | Kingdom of Spain | ||||||||||||
| Public interest business | A/n | (5. 41) | A- | Healthcare | ||||||||||||
| Public interest business | A/n | 1. 96 | A- | Healthcare | ||||||||||||
| Public interest business | A/n | 3. 07 | A- | Financial institution | ||||||||||||
| Public interest business | A/n | (5. 41) | A- | Utilities | ||||||||||||
| Public interest business | Negative | (5. 41) | A- | Public interest business | ||||||||||||
| Ireland | BBB+/NEG clock | 5, 95 | insurance | Healthcare | ||||||||||||
| Ireland | BBB+ / Watch Neg | 5, 93 | insurance | China Southern Power Grid Co. | ||||||||||||
| Ireland | BBB+ / Clock Neg | 1. 83 | insurance | Healthcare | ||||||||||||
| Ireland | BBB+/Clock Neg | 5, 93 | insurance | Bbb+ | ||||||||||||
| Ireland | BBB+/Clock Neg | 3. 07 | insurance | Canadian National Railway | ||||||||||||
| Ireland | BBB+/WATCH NEG | (5. 41) | Aliander N. V. | insurance | Healthcare | |||||||||||
| United States | BBB+/ Negative | 3. 07 | insurance | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| United States | BBB+/ Negative | 0. 73 | Aliander N. V. | insurance | Healthcare | |||||||||||
| United States | BBB+/ Negative | 0. 73 | insurance | Proximus | ||||||||||||
| United States | BBB+/ Negative | 5, 93 | insurance | Utilities | ||||||||||||
| United States | BBB+/ Negative | (5. 41) | insurance | Transportation | ||||||||||||
| United States | BBB+/ Negative | Credit Bank of Peru | 5, 93 | insurance | BBB+ | |||||||||||
| United States | BBB+/ Negative | 5, 93 | insurance | EVN AG | ||||||||||||
| United States | BBB+/ Negative | (11. 90) | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | Caribbean Utilities | (5. 41) | insurance | BBB+/ Negative | |||||||||||
| United States | BBB+/ Negative | 0. 73 | insurance | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| United States | BBB+/ Negative | 5, 93 | insurance | Utilities | ||||||||||||
| United States | BBB+/ Negative | 5, 93 | insurance | Richemont | ||||||||||||
| United States | BBB+/ Negative | 5, 93 | insurance | Utilities | ||||||||||||
| United States | BBB+/ Negative | (5. 41) | insurance | Kingdom of Spain | ||||||||||||
| United States | BBB+/ Negative | (5. 41) | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | Negative | insurance | Transportation | ||||||||||||
| United States | BBB+/ Negative | 1. 96 | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | 5, 93 | insurance | Utilities | ||||||||||||
| United States | BBB+/ Negative | 3. 07 | insurance | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| United States | BBB+/ Negative | (7, 60) | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | 0. 73 | insurance | AA-/Watch | ||||||||||||
| United States | BBB+/ Negative | 5, 93 | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | 0. 52 | insurance | BBB+ (Negative | ||||||||||||
| United States | BBB+/ Negative | 0. 73 | insurance | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| United States | BBB+/ Negative | 7. 18 | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | (7, 60) | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | Northumbrian Water | (5. 41) | insurance | Nuts (in the route) PLC | |||||||||||
| United States | BBB+/ Negative | (5. 41) | insurance | Canadian National Railway | ||||||||||||
| United States | BBB+/ Negative | (5. 41) | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | (5. 41) | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | 9, 98 | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | 3. 22 | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | (5. 41) | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | 5, 93 | insurance | Financial institution | ||||||||||||
| United States | BBB+/ Negative | Latch Group Public | (5. 41) | insurance | Bbb+ | |||||||||||
| United States | BBB+/ Negative | (5. 41) | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | 5, 93 | insurance | Bbb+ | ||||||||||||
| United States | BBB+/ Negative | 0. 73 | insurance | Utilities | ||||||||||||
| United States | BBB+/ Negative | (5. 41) | insurance | Transportation | ||||||||||||
| United States | BBB+/ Negative | (7, 60) | insurance | Canadian National Railway | ||||||||||||
| United States | BBB+/ Negative | 3. 07 | insurance | Canadian National Railway | ||||||||||||
| United States | BBB+/ Negative | Unicated Bank | 5, 93 | Aliander N. V. | insurance | Utilities | ||||||||||
| United States | BBB+/ Negative | Unicated Bank | 5, 93 | Aliander N. V. | insurance | EVN AG | ||||||||||
| United States | BBB+/ Negative | Negative | insurance | Utilities | ||||||||||||
| United States | BBB+/ Negative | Negative | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | Negative | insurance | Healthcare | ||||||||||||
| United States | BBB+/ Negative | (7, 60) | insurance | Transportation | ||||||||||||
| Australia | BBB/ Negative | Negative | Housing maker/ real estate company | BBB | ||||||||||||
| Australia | BBB/ Clock Neg | (11. 90) | Housing maker/ real estate company | Transportation | ||||||||||||
| Australia | BBB/ Clock Neg | DirectV | 3. 07 | Housing maker/ real estate company | Healthcare | |||||||||||
| Australia | BBB/Clock Neg | (5. 41) | Housing maker/ real estate company | Healthcare | ||||||||||||
| Australia | BBB/Clock Neg | DirectV | (11. 90) | Housing maker/ real estate company | Healthcare | |||||||||||
| US | BBB/ Negative | Negative | Housing maker/ real estate company | Utilities | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Transportation | ||||||||||||
| US | BBB/ Negative | (9. 30) | Housing maker/ real estate company | AA-/Watch | ||||||||||||
| US | BBB/ Negative | Negative | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | BBVA BANCOMER, S. A., Institection de Banca Multiple, Grupo Financiero BBVA BANCOMER Y SUBSIDIARIAS | 5, 93 | Aliander N. V. | Housing maker/ real estate company | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||
| US | BBB/ Negative | 0. 73 | Housing maker/ real estate company | Nuts (in the route) PLC | ||||||||||||
| US | BBB/ Negative | Bangco I n-Brewer S. A. Multiple financial institution Inubleza Group | 5, 93 | Housing maker/ real estate company | Font Economico Mihi Cano S. A. B. DE C. V. | |||||||||||
| US | BBB/ Negative | Banco Mercantil Del Norte, S. Institual De Banca Multiplele Grupo Financiero Banorte | 5, 93 | Housing maker/ real estate company | Font Economico Mihi Cano S. A. B. DE C. V. | |||||||||||
| US | BBB/ Negative | 0. 52 | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | Brisbane Airport | (5. 41) | Housing maker/ real estate company | Transportation | |||||||||||
| US | BBB/ Negative | Brookfield Properties Partners | Negative | Housing maker/ real estate company | Axis Capital Holdings | |||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | BBB/ Negative | 5, 93 | Housing maker/ real estate company | Canadian National Railway | ||||||||||||
| US | BBB/ Negative | Negative | Housing maker/ real estate company | Utilities | ||||||||||||
| US | BBB/ Negative | Carrefour Bank | 5, 93 | Aliander N. V. | Housing maker/ real estate company | Utilities | ||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Nuts (in the route) PLC | ||||||||||||
| US | BBB/ Negative | Negative | Housing maker/ real estate company | China Southern Power Grid Co. | ||||||||||||
| US | BBB/ Negative | 1. 83 | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | DEPFA Bank PLC | 5, 93 | Housing maker/ real estate company | Public interest business | |||||||||||
| US | BBB/Negative | 0. 73 | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/Negative | (5. 41) | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/Negative | Negative | Housing maker/ real estate company | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | BBB/Negative | (5. 41) | Housing maker/ real estate company | Construction / real estate company | ||||||||||||
| US | BBB/Negative | Entergy New Orleans LLC | (5. 41) | Housing maker/ real estate company | Healthcare | |||||||||||
| US | BBB/Negative | 5, 93 | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/Negative | Negative | Housing maker/ real estate company | LQ Inberciones Financial Race S. A. | ||||||||||||
| US | BBB/Negative | (5. 41) | Housing maker/ real estate company | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Eni Spa | ||||||||||||
| US | BBB/ Negative | (9. 30) | Housing maker/ real estate company | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Finnish savings bank group | ||||||||||||
| US | BBB/ Negative | 0. 52 | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | (11. 90) | Housing maker/ real estate company | Financial institution | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | BBB/ Negative | 0. 73 | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | 1. 83 | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | Negative | Housing maker/ real estate company | Utilities | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | Negative | Housing maker/ real estate company | BBB | ||||||||||||
| US | BBB/ Negative | 7. 17 | Housing maker/ real estate company | Utilities | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Kingdom of Spain | ||||||||||||
| US | BBB/ Negative | 3. 22 | Housing maker/ real estate company | Transportation | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | Perth Airport | (5. 41) | Housing maker/ real estate company | Transportation | |||||||||||
| US | BBB/ Negative | (2. 44) | Housing maker/ real estate company | BBB | ||||||||||||
| US | BBB/ Negative | Negative | Aliander N. V. | Housing maker/ real estate company | Canadian National Railway | |||||||||||
| US | BBB/ Negative | (9. 30) | Housing maker/ real estate company | Nuts (in the route) PLC | ||||||||||||
| US | BBB/ Negative | (9. 30) | Housing maker/ real estate company | Public interest business | ||||||||||||
| US | BBB/ Negative | (11. 90) | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | 5, 95 | Housing maker/ real estate company | Axis Capital Holdings | ||||||||||||
| US | BBB/ Negative | Solar Star Funding LLC | (5. 41) | Housing maker/ real estate company | Healthcare | |||||||||||
| US | BBB/ Negative | 3. 22 | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Nuts (in the route) PLC | ||||||||||||
| US | BBB/ Negative | (9. 30) | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | 5, 93 | Housing maker/ real estate company | Bbb+ | ||||||||||||
| US | BBB/ Negative | (7, 60) | Housing maker/ real estate company | Utilities | ||||||||||||
| US | BBB/ Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | Negative | Housing maker/ real estate company | Nuts (in the route) PLC | ||||||||||||
| US | BBB/ Negative | (2. 44) | Housing maker/ real estate company | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | BBB/ Negative | (5. 41) | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | Negative | Housing maker/ real estate company | Healthcare | ||||||||||||
| US | BBB/ Negative | Negative | Housing maker/ real estate company | Nuts (in the route) PLC | ||||||||||||
| US | BBB/ Negative | 1. 83 | Housing maker/ real estate company | Healthcare | ||||||||||||
| United States | BBB-/ Watch Neg | 5, 93 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/Watch Neg | 7. 18 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Watch Neg | 9, 98 | Financial Institutions | Utilities | ||||||||||||
| United States | BBB-/ Watch Neg | 7. 18 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | 95 Express Lanes LLC | (5. 41) | Aliander N. V. | Financial Institutions | Healthcare | ||||||||||
| United States | BBB/ Negative | 5, 93 | Financial Institutions | Public interest business | ||||||||||||
| United States | BBB/ Negative | (5. 41) | Financial Institutions | Kingdom of Spain | ||||||||||||
| United States | BBB/ Negative | Negative | Aliander N. V. | Financial Institutions | Utilities | |||||||||||
| United States | BBB-/ Negative | (11. 90) | Financial Institutions | Kingdom of Spain | ||||||||||||
| United States | BBB/ Negative | 5, 93 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | Autopistas Metropolitanas de Puerto Rico LLC | (5. 41) | Financial Institutions | Healthcare | |||||||||||
| United States | BBB/ Negative | (9. 30) | Financial Institutions | BBB+/ Negative | ||||||||||||
| United States | BBB/ Negative | 5, 93 | Financial Institutions | Public interest business | ||||||||||||
| United States | BBB/ Negative | 3. 22 | Financial Institutions | China Southern Power Grid Co. | ||||||||||||
| United States | BBB/ Negative | 3. 07 | Financial Institutions | BBB | ||||||||||||
| United States | BBB/ Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB/ Negative | CAS Holdings No. 1 | 3. 07 | Financial Institutions | BBB | |||||||||||
| United States | BBB-/ Negative | 7. 17 | Financial Institutions | Canadian National Railway | ||||||||||||
| United States | BBB/ Negative | 7. 17 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | China Jinmao Holdings Group Co., Ltd. | Negative | Financial Institutions | BBB | |||||||||||
| United States | BBB-/ Negative | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | (5. 41) | Financial Institutions | BBB | ||||||||||||
| United States | BBB/ Negative | (5. 41) | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB/ Negative | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | Negative | Aliander N. V. | Financial Institutions | Canadian National Railway | |||||||||||
| United States | BBB-/ Negative | (9. 30) | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| United States | BBB-/ Negative | 1. 83 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | 1. 83 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | 5, 93 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | 0. 73 | Financial Institutions | BBB | ||||||||||||
| United States | BBB/ Negative | (11. 90) | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| United States | BBB-/ Negative | (5. 41) | Financial Institutions | Utilities | ||||||||||||
| United States | BBB/ Negative | (11. 90) | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| United States | BBB-/ Negative | (11. 90) | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| United States | BBB-/ Negative | Intercorp Financial Services | 5, 93 | Financial Institutions | BBB+ | |||||||||||
| United States | BBB-/ Negative | (11. 90) | Financial Institutions | Utilities | ||||||||||||
| United States | BBB-/ Negative | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/- Negative | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | 5, 93 | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| United States | BBB-/- Negative | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | 0. 73 | Financial Institutions | BBB+/ Negative | ||||||||||||
| United States | BBB/ Negative | Negative | Financial Institutions | Utilities | ||||||||||||
| United States | BBB-/ Negative | 0. 73 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB/ Negative | 0. 52 | Financial Institutions | Utilities | ||||||||||||
| United States | BBB/ Negative | 1. 96 | Financial Institutions | Public interest business | ||||||||||||
| United States | BBB/ Negative | 5, 93 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-/ Negative | (7, 60) | Financial Institutions | BBB+ (Negative | ||||||||||||
| United States | BBB/ Negative | Negative | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB/ Negative | (9. 30) | Financial Institutions | LQ Inberciones Financial Race S. A. | ||||||||||||
| United States | BBB-/ Negative | (5. 41) | Aliander N. V. | Financial Institutions | Healthcare | |||||||||||
| United States | BBB/ Negative | (9. 30) | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| United States | BBB/ Negative | 0. 73 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB/ Negative | 0. 73 | Financial Institutions | Utilities | ||||||||||||
| United States | BBB-/ Negative | 5, 93 | Financial Institutions | LQ Inberciones Financial Race S. A. | ||||||||||||
| United States | BBB/ Negative | UPL Co., Ltd. | 3. 22 | Financial Institutions | BBB | |||||||||||
| United States | BBB-Negative | 1. 83 | Financial Institutions | Healthcare | ||||||||||||
| United States | BBB-Negative | 0. 52 | Financial Institutions | China Southern Power Grid Co. | ||||||||||||
| United States | BBB/ Negative | (9. 30) | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| British | BB+/clock negative | (5. 41) | Public interest business | BBB | ||||||||||||
| British | BB+/Clock Neg | Coalogic Australia | 9, 98 | Public interest business | Transportation | |||||||||||
| British | BB+/Clock Neg | (5. 41) | Public interest business | BBB | ||||||||||||
| British | BB+ / Clock Neg | (5. 41) | Public interest business | BBB | ||||||||||||
| India | BB+/ Negative | (11. 90) | Public interest business | Utilities | ||||||||||||
| India | BB+/ Negative | Acropolis Group UAB | Negative | Public interest business | BB+ | |||||||||||
| India | BB+/ Negative | (7, 60) | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | 3. 22 | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | (5. 41) | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | Negative | Public interest business | China Southern Power Grid Co. | ||||||||||||
| India | BB+/ Negative | (11. 90) | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | 7. 18 | Public interest business | BBB+ | ||||||||||||
| India | BB+/ Negative | (5. 41) | Public interest business | Axis Capital Holdings | ||||||||||||
| India | BB+/ Negative | Negative | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | Negative | Public interest business | Kingdom of Spain | ||||||||||||
| India | BB+/ Negative | 0. 52 | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | 5, 93 | Aliander N. V. | Public interest business | Healthcare | |||||||||||
| India | BB+/ Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | (11. 90) | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | Negative | Public interest business | Eni Spa | ||||||||||||
| India | BB+/ Negative | 0. 73 | Public interest business | AA-/Watch | ||||||||||||
| India | BB+/ Negative | Negative | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | Marks & Spencer PLC | Negative | Public interest business | Nuts (in the route) PLC | |||||||||||
| India | BB+/ Negative | Acropolis Group UAB | Negative | Public interest business | BB+ | |||||||||||
| India | BB+/ Negative | (11. 90) | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | 1. 96 | Public interest business | Utilities | ||||||||||||
| India | BB+/ Negative | (7, 60) | Public interest business | Healthcare | ||||||||||||
| India | BB+/ Negative | 0. 52 | Public interest business | Utilities | ||||||||||||
| India | BB+/ Negative | (7, 60) | Public interest business | Nuts (in the route) PLC | ||||||||||||
| India | BB+/ Negative | 3. 07 | Public interest business | Eni Spa | ||||||||||||
| India | BB+/ Negative | 7. 18 | Public interest business | Nuts (in the route) PLC | ||||||||||||
| India | BB+/ Negative | 0. 52 | Public interest business | Utilities | ||||||||||||
| Germany | BB/ Negative | (11. 90) | BB | Healthcare | ||||||||||||
| Germany | BB/Watch Neg | (5. 41) | BB | Healthcare | ||||||||||||
| Germany | BB/Watch Neg | (11. 90) | BB | Healthcare | ||||||||||||
| Germany | BB/Watch Neg | 1. 83 | BB | Healthcare | ||||||||||||
| Germany | BB/Watch Neg | 3. 22 | BB | Healthcare | ||||||||||||
| Germany | BB/Watch Neg | 9, 98 | BB | Healthcare | ||||||||||||
| United States | BB/ Negative | Blucora Inc, | 5, 93 | BB | Healthcare | |||||||||||
| United States | BB/ Negative | (9. 30) | BB | Nuts (in the route) PLC | ||||||||||||
| United States | BB/ Negative | 7. 18 | BB | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| United States | BB/Negative | 3. 22 | BB | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| United States | BB/Negative | China Aluminum International Engineering Co., Ltd. | 1. 83 | BB | China Southern Power Grid Co. | |||||||||||
| United States | BB/Negative | (11. 90) | BB | Healthcare | ||||||||||||
| United States | BB/Negative | 1. 83 | BB | Healthcare | ||||||||||||
| United States | BB/Negative | Colombia Telecommunicaciones S. A. E. S. P. | 3. 07 | BB | Telecommunications | |||||||||||
| United States | BB/Negative | 1. 96 | BB | Healthcare | ||||||||||||
| United States | BB/Negative | (7, 60) | BB | Healthcare | ||||||||||||
| United States | BB/Negative | (9. 30) | BB | Healthcare | ||||||||||||
| United States | BB/Negative | Doosan Bobcat | 1. 83 | BB | BBB+ (Negative | |||||||||||
| United States | BB/Negative | 0. 73 | BB | Healthcare | ||||||||||||
| United States | BB/ Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | BB | Aerospace & Defense | ||||||||||||
| United States | BB/Negative | 5, 93 | BB | Healthcare | ||||||||||||
| United States | BB/Negative | 7. 17 | BB | BBB | ||||||||||||
| United States | BB/Negative | (11. 90) | BB | Canadian National Railway | ||||||||||||
| United States | BB/Negative | (2. 44) | BB | Sovereign | ||||||||||||
| United States | BB/Negative | 5, 93 | BB | Healthcare | ||||||||||||
| United States | BB/Negative | Haitong Bank | 5, 93 | BB | Financial Institutions | |||||||||||
| United States | BB/Negative | 0. 73 | BB | Healthcare | ||||||||||||
| United States | BB/Negative | (11. 90) | BB | Healthcare | ||||||||||||
| United States | BB/Negative | 5, 93 | BB | Healthcare | ||||||||||||
| United States | BB/Negative | 5, 93 | BB | Eni Spa | ||||||||||||
| United States | BB/Negative | (9. 30) | BB | Kingdom of Spain | ||||||||||||
| United States | BB/Negative | 5, 93 | BB | Construction / real estate company | ||||||||||||
| United States | BB/Negative | (7, 60) | BB | Oil & Gas | ||||||||||||
| United States | BB/ Negative | 1. 96 | BB | Healthcare | ||||||||||||
| United States | BB/ Negative | Melco Resorts (Macau) Limited | (11. 90) | BB | Media and Entertainment | |||||||||||
| United States | BB/Negative | (5. 41) | BB | Healthcare | ||||||||||||
| United States | BB/Negative | 5, 93 | BB | BBB | ||||||||||||
| United States | BB/Negative | (11. 90) | BB | Healthcare | ||||||||||||
| United States | BB/Negative | (11. 90) | BB | EVN AG | ||||||||||||
| United States | BB/Negative | 3. 22 | BB | AA-/Watch | ||||||||||||
| United States | BB/Negative | 0. 73 | BB | Utilities | ||||||||||||
| United States | BB/Negative | Negative | BB | Healthcare | ||||||||||||
| United States | BB/Negative | (9. 30) | BB | Healthcare | ||||||||||||
| United States | BB/Negative | Solar Star Funding LLC | (5. 41) | BB | Healthcare | |||||||||||
| United States | BB/Negative | (7, 60) | BB | Oil and Gas | ||||||||||||
| Trinidad and Tobago | BB-/Watch Negative | 5, 93 | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| Trinidad and Tobago | BB-/Watch Neg | (5. 41) | Financial Institutions | Canadian National Railway | ||||||||||||
| Trinidad and Tobago | BB-/Watch Neg | 9, 98 | Aliander N. V. | Financial Institutions | Healthcare | |||||||||||
| Trinidad and Tobago | BB-/Watch Neg | 3. 07 | Financial Institutions | Kingdom of Spain | ||||||||||||
| Trinidad and Tobago | BB-/Watch Neg | 3. 22 | Financial Institutions | Healthcare | ||||||||||||
| Trinidad and Tobago | BB-/Watch Neg | 9, 98 | Financial Institutions | Healthcare | ||||||||||||
| Trinidad and Tobago | BB-/Watch Neg | Gap between Current Negative Bias and Historical Average Negative Bias (%) | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| Trinidad and Tobago | BB-/Watch Neg | Telesat Canada | 3. 07 | Financial Institutions | Canadian National Railway | |||||||||||
| Trinidad and Tobago | BB-/Watch Neg | (11. 90) | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| Trinidad and Tobago | BB-/Watch Neg | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | 0. 73 | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | AES Andres B. V. | (5. 41) | Financial Institutions | BB | |||||||||||
| US | BB/ Negative | (5. 41) | Aliander N. V. | Financial Institutions | Healthcare | |||||||||||
| US | BB/ Negative | (9. 30) | Financial Institutions | BB+ | ||||||||||||
| US | BB/ Negative | 5, 93 | Financial Institutions | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | BB/ Negative | (9. 30) | Financial Institutions | Kingdom of Spain | ||||||||||||
| US | BB/ Negative | 1. 83 | Financial Institutions | BB | ||||||||||||
| US | BB/ Negative | Cable and Wireless Communications | 3. 07 | Financial Institutions | Nuts (in the route) PLC | |||||||||||
| US | BB/ Negative | 0. 73 | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | (9. 30) | Financial Institutions | Utilities | ||||||||||||
| US | BB/ Negative | Negative | Financial Institutions | Healthcare | ||||||||||||
| US | BB | (2. 44) | Financial Institutions | BB | ||||||||||||
| US | BB/ Negative | 0. 73 | Financial Institutions | China Southern Power Grid Co. | ||||||||||||
| US | BB/ Negative | (5. 41) | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | (5. 41) | Financial Institutions | AA-/Watch | ||||||||||||
| US | BB/ Negative | 0. 73 | Financial Institutions | Utilities | ||||||||||||
| US | BB/ Negative | (5. 41) | Financial Institutions | BB | ||||||||||||
| US | BB/ Negative | 0. 73 | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | (5. 41) | Financial Institutions | BBB | ||||||||||||
| US | BB/ Negative | (5. 41) | Financial Institutions | Utilities | ||||||||||||
| US | BB/ Negative | Negative | Financial Institutions | BB | ||||||||||||
| US | BB/ Negative | 1. 83 | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | Jeffreies Finance LLC | 5, 93 | Financial Institutions | Healthcare | |||||||||||
| US | BB/ Negative | (5. 41) | Financial Institutions | Kingdom of Spain | ||||||||||||
| US | BB/ Negative | 7. 18 | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | (7, 60) | Financial Institutions | BBB | ||||||||||||
| US | BB/ Negative | 9, 98 | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| US | BB/ Negative | Mooney Group S. P. A. | 5, 93 | Financial Institutions | Eni Spa | |||||||||||
| US | BB/ Negative | (5. 41) | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | 0. 73 | Aliander N. V. | Financial Institutions | Proximus | |||||||||||
| US | BB/ Negative | 5, 93 | Financial Institutions | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | BB/ Negative | (5. 41) | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | (9. 30) | Financial Institutions | BBB+/ Negative | ||||||||||||
| US | BB/ Negative | 5, 93 | Financial Institutions | Public interest business | ||||||||||||
| US | BB/ Negative | (11. 90) | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| US | BB/ Negative | (5. 41) | Financial Institutions | AA-/Watch | ||||||||||||
| US | BB/ Negative | 7. 18 | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | Negative | Financial Institutions | Healthcare | ||||||||||||
| US | Bb/ minus | (5. 41) | Financial Institutions | Healthcare | ||||||||||||
| US | Bb/ minus | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | Melco Resorts (Macau) Limited | (11. 90) | Financial Institutions | BBB | |||||||||||
| US | BB/ Negative | (2. 44) | Financial Institutions | BB | ||||||||||||
| US | BB/ Negative | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | (11. 90) | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | 3. 22 | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | 5, 93 | Financial Institutions | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | BB/ Negative | 5, 93 | Financial Institutions | BB | ||||||||||||
| US | BB/ Negative | 0. 73 | Financial Institutions | Nuts (in the route) PLC | ||||||||||||
| US | BB/ Negative | 0. 73 | Financial Institutions | Utilities | ||||||||||||
| US | BB/ Negative | 5, 93 | Financial Institutions | Healthcare | ||||||||||||
| US | BB/ Negative | 9, 98 | Financial Institutions | EVN AG | ||||||||||||
| US | BB/ Negative | 1. 83 | Financial Institutions | Utilities | ||||||||||||
| Germany | B+/Clock Neg | Atlantic Aviation FBO Inc. | 0. 73 | Aliander N. V. | B+ | Healthcare | ||||||||||
| Germany | B+/Clock Neg | Cook Omega Investments Inc. | 0. 73 | B+ | Canadian National Railway | |||||||||||
| Germany | B+/Clock Neg | (11. 90) | B+ | Healthcare | ||||||||||||
| Germany | B+/Clock Neg | (11. 90) | B+ | Nuts (in the route) PLC | ||||||||||||
| Germany | B+/Clock Neg | (5. 41) | Aliander N. V. | B+ | LQ Inberciones Financial Race S. A. | |||||||||||
| Germany | B+/Clock Neg | 1. 96 | Aliander N. V. | B+ | Healthcare | |||||||||||
| United States | B+/Neg | 7. 17 | B+ | AA-/Watch | ||||||||||||
| United States | Neg | Air Canada | (9. 30) | B+ | Canadian National Railway | |||||||||||
| United States | B+/ Negative | 7. 17 | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | 9, 98 | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | 5, 93 | Aliander N. V. | B+ | United States | |||||||||||
| United States | B+/ Negative | 1. 96 | B+ | Canadian National Railway | ||||||||||||
| United States | B+/ Negative | (11. 90) | B+ | Healthcare | ||||||||||||
| United States | Negative | (5. 41) | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | Negative | B+ | BBB+/ Negative | ||||||||||||
| United States | B+/ Negative | (11. 90) | Aliander N. V. | B+ | Healthcare | |||||||||||
| United States | B+/ Negative | 3. 07 | B+ | Telecommunications | ||||||||||||
| United States | B+/ Negative | Negative | B+ | Richemont | ||||||||||||
| United States | B+/ Negative | 5, 93 | B+ | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| United States | B+/ Negative | (11. 90) | B+ | Nuts (in the route) PLC | ||||||||||||
| United States | Negative | (5. 41) | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | 7. 17 | B+ | Metals, Mining & Steel | ||||||||||||
| United States | B+/ Negative | (5. 41) | B+ | Sovereign | ||||||||||||
| United States | B+/ Negative | 5, 93 | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | 5, 93 | B+ | Financial Institutions | ||||||||||||
| United States | B+/ Negative | 1. 83 | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | (2. 44) | B+ | B+/ Negative | ||||||||||||
| United States | B+/ Negative | (9. 30) | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | 1. 83 | B+ | Utilities | ||||||||||||
| United States | B+/ Negative | (2. 44) | B+ | United States | ||||||||||||
| United States | B+/ Negative | 3. 07 | B+ | Kingdom of Spain | ||||||||||||
| United States | B+/ Negative | (11. 90) | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | (11. 90) | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | Negative | B+ | Nuts (in the route) PLC | ||||||||||||
| United States | B+/ Negative | 0. 52 | B+ | Utilities | ||||||||||||
| United States | B+/ Negative | (11. 90) | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | 7. 17 | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | PBF Holding LLC | (5. 41) | B+ | Healthcare | |||||||||||
| United States | B+/ minus | PBF Holding LLC | (5. 41) | B+ | Healthcare | |||||||||||
| United States | B+/ minus | (2. 44) | B+ | Superiority | ||||||||||||
| United States | B+/ Negative | (11. 90) | Aliander N. V. | B+ | Healthcare | |||||||||||
| United States | B+/ Negative | (2. 44) | B+ | Sobulin | ||||||||||||
| United States | B+/ Negative | Resolute Investment Manager | 5, 93 | B+ | Healthcare | |||||||||||
| United States | B+/ Negative | (5. 41) | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | (11. 90) | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | (7, 60) | B+ | Construction / real estate company | ||||||||||||
| United States | B+/ minus | 7. 17 | B+ | Metal, mining, steel | ||||||||||||
| United States | B+/ minus | 0. 73 | B+ | Utilities | ||||||||||||
| United States | Negative | (9. 30) | B+ | transportation | ||||||||||||
| United States | B+/ minus | Gap between Current Negative Bias and Historical Average Negative Bias (%) | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | (5. 41) | B+ | Healthcare | ||||||||||||
| United States | B+/ Negative | (9. 30) | B+ | Healthcare | ||||||||||||
| United States | B+/ minus | 7. 17 | Aliander N. V. | B+ | Healthcare | |||||||||||
| United States | B+/ Negative | (5. 41) | B+ | Healthcare | ||||||||||||
| United States | B+/ minus | 5, 93 | Aliander N. V. | B+ | Utilities | |||||||||||
| France | B/Watch Neg | Gorfer resource | 7. 17 | B | Healthcare | |||||||||||
| France | B/Watch Neg | Talen Energy Supply LLC | (5. 41) | B | Healthcare | |||||||||||
| US | B/ Negative | 5, 93 | B | BBB | ||||||||||||
| US | Negative | 1. 96 | B | Healthcare | ||||||||||||
| US | B/ Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | B | Nuts (in the route) PLC | ||||||||||||
| US | B/ Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/ Negative | 0. 73 | B | Healthcare | ||||||||||||
| US | B/ Negative | 1. 96 | B | BBB | ||||||||||||
| US | B/ Negative | Albaraka, Turk, Katirim, Bankashi | 5, 93 | B | Financial institution | |||||||||||
| US | Negative | Alberea Beauty Holdings S. A. | 3. 22 | B | Utilities | |||||||||||
| US | Negative | 7. 17 | B | Healthcare | ||||||||||||
| US | Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/ Negative | Ultis France | 3. 07 | B | Utilities | |||||||||||
| US | B/ Negative | Ultis France | 3. 07 | B | BBB | |||||||||||
| US | B/ Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | B | Healthcare | ||||||||||||
| US | B/ Negative | 1. 96 | B | Healthcare | ||||||||||||
| US | B/ Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/ Negative | 1. 96 | B | Healthcare | ||||||||||||
| US | B/ Negative | 7. 18 | B | AA-/Watch | ||||||||||||
| US | Negative | 1. 96 | B | Nuts (in the route) PLC | ||||||||||||
| US | Negative | 9, 98 | B | Healthcare | ||||||||||||
| US | B/Negative | (11. 90) | B | Utilities | ||||||||||||
| US | B/Negative | 1. 96 | B | Healthcare | ||||||||||||
| US | B/Negative | 3. 22 | B | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | B/Negative | Negative | B | Healthcare | ||||||||||||
| US | Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/Negative | 0. 73 | B | Healthcare | ||||||||||||
| US | B/Negative | (11. 90) | B | BB | ||||||||||||
| US | B/Negative | Negative | B | Utilities | ||||||||||||
| US | Negative | 0. 73 | B | Utilities | ||||||||||||
| US | Negative | 3. 22 | B | Healthcare | ||||||||||||
| US | Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/Negative | 5, 93 | B | Telecommunications | ||||||||||||
| US | B/Negative | 1. 96 | B | BBB | ||||||||||||
| US | Negative | 3. 07 | B | Healthcare | ||||||||||||
| US | B/Negative | Negative | B | BB | ||||||||||||
| US | B/Negative | Negative | B | Utilities | ||||||||||||
| US | Negative | 0. 73 | B | Nuts (in the route) PLC | ||||||||||||
| US | B/Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/Negative | 1. 96 | B | Healthcare | ||||||||||||
| US | B/Negative | 0. 73 | B | Healthcare | ||||||||||||
| US | Negative | 7. 18 | B | Healthcare | ||||||||||||
| US | B/Negative | 0. 73 | B | Consumer goods | ||||||||||||
| US | Negative | 1. 96 | B | Transportation | ||||||||||||
| US | B/ Negative | Negative | B | Healthcare | ||||||||||||
| US | Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/Negative | (5. 41) | Aliander N. V. | B | Healthcare | |||||||||||
| US | B/Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/Negative | 0. 73 | B | Proximus | ||||||||||||
| US | Negative | 9, 98 | B | Nuts (in the route) PLC | ||||||||||||
| US | Negative | 1. 96 | B | Nuts (in the route) PLC | ||||||||||||
| US | Negative | 0. 52 | B | Healthcare | ||||||||||||
| US | B/Negative | 0. 73 | Aliander N. V. | B | Healthcare | |||||||||||
| US | B/Negative | Jaguar Land Rover Automotive PLC | 0. 52 | B | Nuts (in the route) PLC | |||||||||||
| US | Negative | 3. 22 | B | Utilities | ||||||||||||
| US | B/Negative | 0. 52 | B | Healthcare | ||||||||||||
| US | B/Negative | (11. 90) | B | AA-/Watch | ||||||||||||
| US | Negative | (7, 60) | B | Healthcare | ||||||||||||
| US | B/ Negative | Labra Co., Ltd. | 3. 22 | B | Healthcare | |||||||||||
| US | B/ Negative | 1. 96 | B | Healthcare | ||||||||||||
| US | B/ Negative | (11. 90) | B | Canadian National Railway | ||||||||||||
| US | B/ Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/ Negative | (5. 41) | B | Healthcare | ||||||||||||
| US | B/ Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | B | Healthcare | ||||||||||||
| US | B/ Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | B | BB | ||||||||||||
| US | B/ Negative | 3. 07 | B | Healthcare | ||||||||||||
| US | B/ Negative | 9, 98 | B | Healthcare | ||||||||||||
| US | B/ Negative | 3. 22 | B | Healthcare | ||||||||||||
| US | B/ Negative | Mongolian Mortal Corporation HFC LLC | 5, 93 | Aliander N. V. | B | Mongolian Mortal Corporation HFC LLC | ||||||||||
| US | B/ Negative | (11. 90) | B | Axis Capital Holdings | ||||||||||||
| US | Negative | 5, 95 | B | Healthcare | ||||||||||||
| US | B/ Negative | (5. 41) | B | Healthcare | ||||||||||||
| US | B/ Negative | 7. 17 | B | Healthcare | ||||||||||||
| US | B/ Negative | 7. 18 | B | BBB | ||||||||||||
| US | Negative | 7. 18 | B | Healthcare | ||||||||||||
| US | B/ Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/ Negative | (7, 60) | B | Healthcare | ||||||||||||
| US | B/ Negative | 0. 73 | Aliander N. V. | B | Healthcare | |||||||||||
| US | B/ Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/ Negative | 1. 83 | B | Healthcare | ||||||||||||
| US | B/ Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/ Negative | 7. 17 | B | Healthcare | ||||||||||||
| US | B/ minus | Precision drilling | (7, 60) | B | Canadian National Railway | |||||||||||
| US | Negative | 1. 96 | B | Healthcare | ||||||||||||
| US | B/ Negative | (2. 44) | B | Sobulin | ||||||||||||
| US | B/ Negative | (2. 44) | B | Sobulin | ||||||||||||
| US | negative | (11. 90) | B | Healthcare | ||||||||||||
| US | Negative | (9. 30) | B | BBB+/ Negative | ||||||||||||
| US | Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | Negative | 0. 73 | B | BBB | ||||||||||||
| US | Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/ Negative | 9, 98 | B | Healthcare | ||||||||||||
| US | B/ Negative | Sizar Group S. P. A | (11. 90) | B | Eni Spa | |||||||||||
| US | B/ Negative | 9, 98 | B | Font Economico Mihi Cano S. A. B. DE C. V. | ||||||||||||
| US | B/ Negative | 0. 73 | B | Healthcare | ||||||||||||
| US | B/ Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/ Negative | 0. 73 | B | Healthcare | ||||||||||||
| US | B/ Negative | 1. 96 | B | Healthcare | ||||||||||||
| US | B/ Negative | 0. 73 | B | Kingdom of Spain | ||||||||||||
| US | B/ Negative | 7. 18 | B | Healthcare | ||||||||||||
| US | B/ Negative | (11. 90) | B | Healthcare | ||||||||||||
| US | B/ Negative | 1. 83 | B | Healthcare | ||||||||||||
| US | B/ Negative | 0. 73 | B | Canadian National Railway | ||||||||||||
| US | Negative | 0. 52 | B | Healthcare | ||||||||||||
| US | Negative | 1. 96 | B | Healthcare | ||||||||||||
| US | B/ Negative | 5, 93 | B | Healthcare | ||||||||||||
| US | B/ Negative | White Cap Supply Holdings LLC | 1. 83 | B | Healthcare | |||||||||||
| US | B/ Negative | 0. 73 | B | Healthcare | ||||||||||||
| US | B/ Negative | 1. 96 | B | Healthcare | ||||||||||||
| US | B/ Negative | (11. 90) | B | Healthcare | ||||||||||||
| OUR | B- / Watch Neg | (2. 44) | B- | Sobulin | ||||||||||||
| OUR | B-/Watch Neg | (7, 60) | Aliander N. V. | B- | Financial institution | |||||||||||
| OUR | B-/Watch Neg | (11. 90) | B- | Healthcare | ||||||||||||
| OUR | B-/Watch Neg | (9. 30) | B- | Financial Institutions | ||||||||||||
| Portugal | B-/-negative | Negative | B- | Canadian National Railway | ||||||||||||
| Portugal | B/ Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | B- | Healthcare | ||||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | 3. 07 | B- | Healthcare | ||||||||||||
| Portugal | Negative | Albogen Pharma US Inc, | 1. 96 | B- | Healthcare | |||||||||||
| Portugal | B-/ Negative | (9. 30) | B- | Healthcare | ||||||||||||
| Portugal | Negative | 1. 96 | B- | Healthcare | ||||||||||||
| Portugal | Negative | 7. 17 | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | 5, 93 | B- | Canadian National Railway | ||||||||||||
| Portugal | Negative | Burger King France | Negative | B- | Utilities | |||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | Negative | 1. 83 | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | 1. 83 | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | 1. 83 | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | 0. 73 | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | (5. 41) | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | 0. 73 | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | 0. 73 | B- | Healthcare | ||||||||||||
| Portugal | B/ Negative | Sasa Enterprises S. L. U. | (11. 90) | B- | Kingdom of Spain | |||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | B-/ Negative | 0. 52 | B- | Healthcare | ||||||||||||
| Portugal | Negative | 7. 17 | B- | Transportation | ||||||||||||
| Portugal | Negative | 0. 73 | B- | Healthcare | ||||||||||||
| Portugal | Negative | Dave & Busters | Negative | B- | Healthcare | |||||||||||
| Portugal | B-/-negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | Negative | 0. 73 | B- | Healthcare | ||||||||||||
| Portugal | Negative | 0. 52 | B- | Healthcare | ||||||||||||
| Portugal | Negative | 1. 96 | B- | Public interest business | ||||||||||||
| Portugal | Negative | 1. 83 | B- | BBB+/ Negative | ||||||||||||
| Portugal | Negative | 3. 22 | B- | Healthcare | ||||||||||||
| Portugal | Negative | Gap between Current Negative Bias and Historical Average Negative Bias (%) | B- | Eni Spa | ||||||||||||
| Portugal | Negative | Fleet pride | 0. 52 | B- | Healthcare | |||||||||||
| Portugal | Negative | 3. 22 | B- | Healthcare | ||||||||||||
| Portugal | [...] | (11. 90) | B- | Nuts (in the route) PLC | ||||||||||||
| Portugal | [...] | 0. 73 | B- | Healthcare | ||||||||||||
| Portugal | B/ Negative | Guitar center | Negative | B- | Healthcare | |||||||||||
| Portugal | B-/-negative | 0. 73 | B- | Healthcare | ||||||||||||
| Portugal | B-/ minus | 0. 73 | B- | Utilities | ||||||||||||
| Portugal | Negative | (2. 44) | Aliander N. V. | B- | yes | |||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | Negative | 3. 07 | B- | Healthcare | ||||||||||||
| Portugal | B/ Negative | 1. 83 | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | Negative | B- | Utilities | ||||||||||||
| Portugal | Negative | 0. 73 | B- | BBB | ||||||||||||
| Portugal | Negative | 0. 73 | B- | Canadian National Railway | ||||||||||||
| Portugal | Negative | 1. 96 | B- | Healthcare | ||||||||||||
| Portugal | Negative | (5. 41) | B- | Healthcare | ||||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | Negative | 9, 98 | B- | Transportation | ||||||||||||
| Portugal | Negative | 0. 73 | B- | Eni Spa | ||||||||||||
| Portugal | Negative | (5. 41) | B- | Healthcare | ||||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | Moran Foods LLC | Negative | B- | Healthcare | |||||||||||
| Portugal | B-/-negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | B-/ minus | North Paul Newco S. A. R. L. | 9, 98 | B- | BBB | |||||||||||
| Portugal | B/ Negative | 0. 73 | B- | Healthcare | ||||||||||||
| Portugal | Negative | Parties Holding European SAS | 0. 52 | Aliander N. V. | B- | Utilities | ||||||||||
| Portugal | B/ Negative | (11. 90) | B- | Consumer goods | ||||||||||||
| Portugal | Negative | 3. 22 | B- | Construction / real estate company | ||||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | Negative | 9, 98 | B- | Canadian National Railway | ||||||||||||
| Portugal | B/ Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | Negative | (9. 30) | B- | AA-/Watch | ||||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | Negative | 1. 83 | B- | Healthcare | ||||||||||||
| Portugal | B-/ minus | 0. 73 | B- | Healthcare | ||||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | Negative | 1. 83 | B- | Nuts (in the route) PLC | ||||||||||||
| Portugal | B/ Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | (11. 90) | B- | Transportation | ||||||||||||
| Portugal | B-/-negative | 1. 83 | B- | Healthcare | ||||||||||||
| Portugal | Negative | 0. 52 | B- | Healthcare | ||||||||||||
| Portugal | Negative | 1. 96 | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | (9. 30) | B- | Healthcare | ||||||||||||
| Portugal | B-/-negative | 3. 07 | B- | Healthcare | ||||||||||||
| Portugal | B/ Negative | 0. 73 | B- | AA-/Watch | ||||||||||||
| Portugal | Negative | (7, 60) | B- | BBB | ||||||||||||
| Portugal | Negative | (9. 30) | B- | Canadian National Railway | ||||||||||||
| Portugal | Negative | (11. 90) | B- | Healthcare | ||||||||||||
| Portugal | Negative | 0. 73 | B- | Healthcare | ||||||||||||
| 18. 10 | ||||||||||||||||
Related Research:
- The data is as of June 30, 2021. Source: S & amp; P global rating survey.
- Negative rating action on Kuwait's four banks inherits the dominant dominance July 26, 2021
- Trends in Europe / Middle East / Africa (EMEA) (EMEA) Financial institutions 3rd quarter: Rourse in search of reinforcement July 16, 2021
- COVID-19 Heat Map: Insufficient supply and demand of COVID-19 further improves the recovery prospect of creditworthiness June 8, 2021
S & amp; P Global Rating Definition, January 5, 2021
| This report is not a rating action. | Credit Markets Survey |
| SARAH LIMBACH, PARIS + 33 14 420 6708; SARAH. | |
| Sudep Kesh (New York) + 1 (212) 438 7982; sudeep. | Research c o-worker |
| Shuripati Plan Shoe, Crisil Global Analytical Center, S & Amp; P subsidiary, Mumbai |
S & amp; P Global Ratings Subsjusting Krisil Global Analytical Center (Mumbai), Nivritti Michula Richariya
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Looking back on a year of increasingly rapid change, credit quality and ratings performance in played out largely as we expected—with. S&P Global Ratings lowered its long-term sovereign ratings on. Peru--foreign currency to 'BBB' from 'BBB+' and local currency to 'BBB+' from 'A. The number of potential bond downgrades has decreased for nearly one year to issuers as of June 30, after peaking at 1, in July
accepted