Sovereign downgrades could drag down corporate ratings – S&P

19 Jul 2011

Sovereign debt problems in the euro zone could weaken corporate credit quality in peripheral countries, Standard & Poor’s warned on Monday.

As EuroWeek reported on Friday July 15, the accumulation of rating downgrades of Greece, Portugal and Ireland to speculative grade in recent weeks could hurt the high yield market more broadly, as these downgrades could also trigger rating actions on related companies.

In its research paper, S&P said that ...

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