Standard & Poor’s

Commerzbank credit protection costs double in a week

The cost of credit protection for Commerzbank has nearly doubled over the last week. The widening follows rumours of large credit derivatives trading losses at the German bank and a cut in its long-term credit rating from A to A- yesterday from Standard …

Grim outlook for energy merchants, says S&P

The future of many US energy merchants hinges on their ability to maintain adequate levels of liquidity over the next several months, according to Standard & Poor’s. Although some energy firms with trading operations are making progress on asset sales,…

EU default rates hit record high in Q2, says S&P

Rating agency Standard and Poor’s (S&P) said speculative-grade default rates in the European Union (EU) soared to a record high in the second quarter. The EU recorded a default rate of 5.11% in the second quarter, surpassing both the global and US…

Beyond the pail

Australia’s regulator has hinted that it may work outside of the Basel Accord to set its own risk weightings for residential mortgages if adjustments aren’t made, writes Nick Sawyer.

S&P rates hedge fund of funds CDO

Ratings agency Standard & Poor’s (S&P) said it has rated a hedge fund-backed collateralised debt obligation (CDO) issued last week by Diversified Strategies, a special-purpose vehicle. Cayman Islands-based Investcorp Management Services is the investment…

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