mast image

Special Report

Impact investing

Sections

EU credit deteriorated in 2001 according to S&P

EUROPE – Last year saw a further deterioration in the credit quality of European Union investment grade company bonds, as 122 downgrades against 28 upgrades were recorded, representing some €458bn worth of outstanding debt, against €265bn in 2000, says Standard& Poor’s (S&P).

Diane Vazza, an analyst at S&P says that this is the fourth consecutive year that the European market has followed a downward trend, and that this was due mainly to depressed markets and macroeconomic data. She points out that last year was particularly severe, as the number of downgrades almost doubled. “There were 66 downgrades in 2000, against 122 last year. We put this down to the general market downturn and market sentiment towards the end of the year,” she says.

However, Vazza says S&P is becoming confident there will be a turnaround in fortunes this year. “We feel that the economic cycle has now bottomed out and with a trickle of positive economic data coming through, we expect to see a gradual, and I stress gradual, pick up in the number of companies in the investment grade category in Europe receiving improved ratings.”


Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<