Fallen Angels: Growing, but Slowing?
The ranks of the Fallen Angels – firms whose credit quality has made the shift from investment-grade to high yield, or “junk” status – continue to grow, but the pace may be slowing down.
Credit Quality for UK Housing Continues to Worsen: August 2020
To download the August 2020 Housing Aggregate PDF, click here. . The US housing sector can breathe a (perhaps temporary) sigh of relief. The UK housing sector, however, may be taking a turn for the worse, with credit quality diminishing. There have been some positive signs in recent weeks, like rising sales, increased construction, and […]
August Credit Consensus Indicators (CCIs) – UK, EU and US Industrials
Credit Benchmark have released the August Credit Consensus Indicators (CCIs). The CCI is an index of forward-looking credit opinions for US, UK and EU Industrials based on the consensus views of over 20,000 credit analysts at 40 of the world’s leading financial institutions. Drawn from more than 800,000 contributed credit observations, the CCI tracks the […]
Rising Stars: Which Sectors are COVID Winners?
COVID-19 has caused major economic damage, especially in sectors connected with travel and leisure. But in manufacturing and technology there will be some strong winners. The most recent Consensus credit data gives some insight into how these winners are already emerging.
Mid-August 2020 Financial Counterpart Monitor
The Financial Counterpart Monitor from Credit Benchmark provides a unique analysis of the changing creditworthiness of financial institutions. The report, which covers banks, intermediaries, buy-side managers, and buy-side owners, summarizes the changes in credit consensus of each group as well as their current credit distribution and count of entities that have migrated from Investment Grade […]
Mid-August Industry Monitor
Download the Mid-August Industry Monitor infographic below. Credit Benchmark have released the mid-month industry update for August, based on a partial subset of the contributed credit risk estimates from 40+ global financial institutions. In the update, you will find: Compared to the figures seen in the July End-of-Month Update, the August Mid-Month Industry Monitor shows: […]
Default Risk for US, UK Retail Sectors Continues to Rise: August 2020
To download the August 2020 Retail Aggregate PDF, click here. Retail woes show no sign of stopping, particularly for the US. Joining chains like JC Penny, Brooks Brothers, and Sure La Table in bankruptcy are The Paper Store, Lord & Taylor, and Tailored Brands. Even with positive signs, like the second monthly increase in retail […]
End-July Industry Monitor
Download the End-July Industry Monitor infographic below. Credit Benchmark have released the end-month industry update for July, based on a partial subset of the contributed credit risk estimates from 40+ global financial institutions. In the update, you will find: Compared to the figures seen in the July Mid-Month Industry Monitor, the July End-Month Industry Monitor […]
Credit Challenge Grows for US Energy Sector: July 2020
To download the July 2020 Oil & Gas Aggregate PDF, click here. . Problems in credit quality abound, yet few sectors are seeing deterioration like the US energy sector. Supplies remain elevated as demand remains lower, and the economy remains weakened as new COVID-19 cases surge throughout the country. So great is the strain for […]
Fallen Angels: Potential Defaults Climb as Ranks Grow
Rating agency downgrades have hit unprecedented levels over the past few months, but the majority of the downgrades have been for companies that were already classed as high yield. Fallen Angels – companies that cross the boundary from Investment Grade to Junk – are still in a minority, as agencies (and their corporate clients) display an understandable reluctance to avoid the “BBB cliff”.
