Standard & Poor’s
S&P questions Basel II
NEW YORK - Standard and Poor's anticipates significant challenges for banks to quantify operational risk as outlined in Basel II, even though it expresses general support for the Accord as a whole.
First Taiwanese offshore primary CBO in doubt
The attempt to offer the first offshore primary Taiwanese collateralised bond obligation (CBO) appears to be in serious jeopardy, with credit rating agency Standard & Poor’s (S&P) withdrawing its preliminary rating on a tranche of notes.
Rumbles in the ratings jungle
Things are astir in the ratings jungle. Moody's published a paper earlier this year detailing a specific approach to assessing operational risk. Fitch will shortly be devoting a separate section of its rating reports to op risk. And Standard & Poor's,…
Trade bodies back credit rating agency reforms
Washington, DC - Several financial industry trade associations are supporting reforms to the recognition of credit rating agencies in the US.
Event-driven hedge fund strategies post strong returns
Event-driven strategies are the leading growth component in the S&P Hedge Fund Index, generating a 10.38% return for the year-to-date, according to Standard & Poor’s.
Warming to the exchanges
Exchanges
US credit default swaps and CLN markets recovering, says S&P
The US credit default swaps (CDS) and credit-linked notes (CLN) markets are recovering from a lull in activity, according to rating agency Standard & Poor’s (S&P).
A secure base
Long praised as pioneers in the energy derivatives space, US energy firms are now looking to make their overall risk management practices more robust. And, as Paul Lyon discovers, these companies have several innovations up their sleeves, such as…
S&P to apply stress test to power firms
Standard & Poor’s (S&P) is to apply a stress test designed to measure how well power companies can stand price swings in volatile electricity markets. The move is part of the credit rating agency’s effort to combat criticism of rating agency failure to…
Standard & Poor's enters portfolio risk modelling
Standard & Poor's (S&P) Risk Solutions has launched a portfolio risk tracker model. The model covers both credit and market risk, which should allow banks to calculate their economic capital and perform risk assessments across the full range of risks…
Standard & Poor's enters portfolio risk modelling
Standard & Poor's (S&P) Risk Solutions has launched a portfolio risk tracker model. The model covers both credit and market risk, which should allow banks to calculate their economic capital and perform risk assessments across the full range of risks…
Teething problems in Texas
Advocates of retail electricity deregulation cite Texas as evidence that competitioncan succeed. But big risks remain for power marketers, finds Kevin Foster
Lehman launches more minibonds in Hong Kong
Lehman Brothers has launched retail minibonds linked to the credit of Hong Kong conglomerate Hutchison Whampoa today, making it the fourth time the bank has launched such a product in the Hong Kong Special Administrative Region.
Energy firms find succour
US energy company debt has reached critical levels, with nervous investors and banks working hard to keep these companies afloat. But Paul Lyon finds the secretive hedge fund industry could also lend a helping hand
Fujitsu spreads widen 30bp due to multiple woes
Credit default swap spreads on Japanese computer maker Fujitsu’s five-year debt protection widened 30 basis points this week, following media speculation that the company might become a “rehabilitation candidate” for the government’s Industrial…
Cross-border conundrums
Credit Risk
Bearing the brunt
Finance
Delaying the inevitable?
Finance
IT infrastructure influences credit ratings, say agencies
NEW YORK - Credit rating agencies, including Standard & Poor's (S&P), Moody’s Investor Services and Fitch Ratings, are now more frequently assessing buy-side technology in terms of supporting operations and, in some instances, sources of operational risk.
S&P and RDB launch SME CreditModel in Japan
Standard and Poor's (S&P) Risk Solutions and the Risk Data Bank of Japan (RDB), a credit risk data provider, have launched a new advanced default probability model that assesses the creditworthiness of small and medium-sized (SME) Japanese enterprises.
S&P and RDB launch SME CreditModel in Japan
Standard and Poor’s (S&P) Risk Solutions and the Risk Data Bank of Japan (RDB), a credit risk data provider, have launched a new advanced default probability model that assesses the creditworthiness of small and medium-sized (SME) Japanese enterprises.
Credit swap spreads edge out on Iraq war fears
Spreads in the credit default swap market started widening in trading this week, as sellers of credit protection left the market due to increasing uncertainty about a quick resolution of the US-led invasion of Iraq, London-based traders said today.
Rating agencies open can of worms
NEW YORK — Rating agencies are coming under much closer scrutiny as providers of operational risk analysis, as a result of the Basel Accord revisions and recent US corporate scandals.
Poor auto sales and Fiat downgrade drives some spreads wider
The downgrade of debt issued by troubled Italian auto manufacturer Fiat to junk status sent the cost of its credit protection wider by about 125 basis points to 875/975bp. And poor US February auto sales released mid-week also prompted the widening on…