06 November 2002 03:02
S&P Global Credit Markets Digest -- Asia-Pacific Update
Business Editors
NEW YORK--(BUSINESS WIRE)--Standard & Poor's--Nov. 6, 2002--ASIA-PACIFIC UPDATE:
-- Nabors Industries Ltd. Prepares for the Drilling Boom -- Physical Hedging of Power Prices Has Its Risks...and Rewards
-- Regional Transmission Organization in the U.S. West -- Mutual Fund Securitizations: A Surveillance Perspective --
Sleepless Nights Ahead for Global Lodging Sector -- Importance of University Endowment Buildup -- Living Longer has
Long-Term Ramifications for State & Local Governments -- Long-Term Supply Contracts and Set-Off Issues -- Results of
U.S. Bond, Referendum, and Initiative Ballots
Here is the current lineup of top articles and research from Standard & Poor's Credit Information
Services:
COMING UP:
PUBLISHED:
RESEARCH REPORTS
CORPORATES
-- Local Currency Rating Criteria Update: The Importance of
Country Risk for Corporate and Infrastructure Sectors
-- European Chemicals Players Show Resilience, But Industry
Future Is Unclear
-- European Corporates' Poor Disclosure Confirms Pensions as a
High-Profile Issue
-- The U.S. Telecom Industry: An Overview
-- Gaming--Less of a Gamble After All in 2002
-- U.S. Energy Merchants Have More Than $90 Billion to Refinance
by 2006
-- Iraq War Could Lead to Anything From Oil Price Spike or Energy
Crisis
-- Russia's Ruble Bond Market Vulnerable to Defaults
-- Ratings Pressure Increases on Oil & Gas Refining and Marketing
GLOBAL FIXED INCOME RESEARCH
-- Standard & Poor's Comments on Canadian Credit Quality
-- Enough With the Tricks, Here are Some Treats
-- U.S. Nonfinancial Forecast and Third Quarter 2002 Update Now
Available
-- EU Default Rate Maintains Lead Over its Global Counterparts
FINANCIAL SERVICES
-- S&P Announces Review of Comparative Asia-Pacific Bank Industry
Risk Analysis
-- Asia-Pacific Banking: A Comparative Analysis of Industry Risk
-- Bank Industry Overview: Vietnam
-- Bank Industry Overview: Thailand
-- Bank Industry Overview: Taiwan
-- Bank Industry Overview: Singapore
-- Bank Industry Overview: Philippines
-- Bank Industry Overview: Malaysia
-- Bank Industry Overview: Korea
-- Bank Industry Overview: Japan
-- Bank Industry Overview: Indonesia
-- Bank Industry Overview: India
-- Bank Industry Overview: Hong Kong
-- Bank Industry Overview: China
-- Bank Industry Overview: Australia
-- Exposure to Troubled Merchant Energy Sector May Dim Financial
Institutions' Ratings Future
-- Japanese Securities Companies' Half-Year Results Show Weakness
Prevails
-- Report: Earnings Pressures Widen the Gap Between Japan's
Non-Life Insurers
-- German Landesbanks' Future Unguaranteed Ratings Unlikely to be
in 'AA' Category Post July 2005
-- Tough Times For Japan's Life Insurers Forces Pace of Industry
Realignment
-- Industry Report Card Released on U.S. Brokerage Companies
-- Argentine Banks Report Poor First Quarter 2002 as Expected
STRUCTURED FINANCE
-- Emerging Market Export Future Flow Ratings Less Volatile Than
Related Corporate and Sovereign Ratings
-- S&P: Conseco-Guaranteed Certificates Lead U.S. RMBS Downgrades
in Third Quarter
-- The Effect of Dependent Rating Changes on ABCP Ratings
-- Quarterly High CLTV Matrix: Charge-Offs Increase at Decreasing
Rate, 90-Plus Delinquencies Fall
SOVEREIGNS
-- New Turkish Government is Not Expected to Make Major Economic
Policy Changes
RATING ACTIONS
CORPORATE RATINGS
-- Rohm and Haas Co. Long-Term Ratings Lowered; Slower Financial
Profile Improvement Expected
-- United Air Lines Negotiates Debt Deferral; Still Watch
Developing
-- ASM International N.V. Outlook Revised to Negative On
Liquidity Concerns; LT Ratings Affirmed
FINANCIAL SERVICES RATINGS
-- The Cincinnati Insurance Co. and Related Ratings Affirmed;
Outlook Stable
-- Chubb Corp. Ratings Lowered, Off CreditWatch; Outlook Negative
-- Swiss Life 'A' Ratings Remain On Watch Negative
-- Russia-Based Alfa Bank's $175 Million 3-Year Notes Assigned
'B-' Rating
SOVEREIGN RATINGS
-- Guatemala Ratings Affirmed; Outlook Revised to Negative
-- Czech Republic LC Ratings Lowered One Notch to 'A+/A-1'; FC
Ratings Affirmed; Outlook Stable
LOCAL & REGIONAL GOVERNMENTS RATINGS
-- City of Edmonton Outlook Revised to Positive, 'AA' Ratings
Affirmed
PUBLIC FINANCE
-- New South Wales 'AAA' Rating Affirmed on the Strength of Its
Finances
STRUCTURED FINANCE RATINGS
-- Atherton Franchisee Loan Funding 1999-A Ratings Lowered on
Various Classes, On Watch Negative
-- No S&P Ratings for NCFE ABS Deals Since 1995 due to Credit
Risk of Receivables
RESEARCH ANALYSIS
CORPORATES
-- Magnum Hunter Resources Inc.
-- McDonald's Corp.
-- L'Air Liquide S.A.
-- Toyota Motor Corp.
-- Mitsubishi Electric Corp.
FINANCIAL SERVICES
-- HSBC USA Inc.
-- American National Property & Casualty Co. and American
National General Insurance Co.
-- Ceskoslovenska Obchodni Banka A.S.
-- Bank Hapoalim B.M.
-- WellPoint Health Networks Inc. Insurance Group
SOVEREIGNS
-- Israel (State of)
STRUCTURED FINANCE
-- Surveillance: Longreach CP Ltd. Series 1
-- New Issue: Residential Asset Mortgage Products Inc. 2002-RS5
-- New Issue: Washington Mutual Mortgage Securities Corp.
--30--SAM/se* CONTACT: Standard & Poor's Media contacts: Asia-Pacific: Nerys Williams, 852-2533-3515 London: Lisa Hall,
44-207-826-3536 Melbourne: Sharon Beach, 61-3-9631-2152 Moscow: Yuri Morozov, 7-095-745-2904 New York: Gregg Stein,
212-438-1730 Paris: Claude Chaubet-Bride, 33-1-4420-6657 Tokyo: Toshiko Tanabe, 813-3593-8410
-- New Issue: IndyMac Bank
-- New Issue: Wells Fargo Mortgage-Backed Securities 2002-E Trust
Copyright 2002, Standard & Poor's Ratings Services
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