Download the Mid-September Industry Monitor infographic below.
Credit Benchmark have released the mid-month industry update for September, based on the final and complete set of the contributed credit risk estimates from 40+ global financial institutions.
In the update, you will find:
- Opinion Indicator: Assesses the month over month observation-level net downgrades or upgrades.
- Ratio: Ratio of Deteriorations and Improvements calculated as Deteriorations / Improvements
- Distribution Changes: The increase or decrease in the percentage of entities in the given rating category
- IG to HY Migration: The absolute and relative movement from investment-grade to high-yield
Compared to the figures seen in the August End-Month Industry Monitor, the September Mid-Month Industry Monitor shows:
- The ratio of deteriorations to improvements for Corporates has improved since the end-August update (1.9:1 vs. 3.0:1)
- Travel and Leisure saw a large deteriorating ratio at 3.8:1, though it has improved since the end-August update (5.8:1)
- Health Care saw a 1:1 ratio of deteriorations to improvements
- Among the industries, General Retailers show the greatest percentage of Fallen Angels (2.5%)
Credit Benchmark will continue to provide regular reports on these migration rates. If you have any questions about the contents of this update, please get in touch.
