S&P’s mixed review

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In Standard & Poor’s annual review of European credit trends, the rating agency has highlighted the lack of upside in improvements in the creditworthiness of corporates in 2004, even though the low point for corporate credit quality has passed.

The overall distribution of outlooks and CreditWatch listings, a good lead indicator of credit quality, is slightly worse than at the same point in 2002, states Barbara Ridpath, Standard & Poor’s chief credit officer for Europe. And although the numbe

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