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April Credit Update: Consensus Upgrades and Downgrades are in Balance

Posted by on May, 3 2019.

Credit Benchmark has published the latest monthly credit consensus data (from March 2019) based on contributions from 30+ financial institutions, covering over 27,400 separate legal entities.

The monthly upgrades and downgrades overview is now based on data adjusted for changes in contributor mix.

Monthly consensus upgrades and downgrades:

  • 267 obligors improved their credit standing by at least one notch.
  • 241 obligors deteriorated.
  • 43 moved more than one notch.
  • The frequency of upgrades and downgrades has decreased.

Last month showed improvements across 415 obligors and deterioration across 295, with 39 moving by more than one notch.

Industries:

  • Upgrades dominate downgrades in three out of ten reported industries.
  • The industries showing an improvement in credit quality include:
    • Basic Materials with 11 upgrades and five downgrades.
    • Consumer Goods with 27 upgrades and 20 downgrades.
    • Utilities with 10 upgrades and five downgrades.
  • The industries showing deteriorations are:
    • Health Care with five upgrades and four downgrades.
    • Telecommunications with two upgrades and three downgrades.

To learn more about consensus ratings and analytics from Credit Benchmark, email [email protected]

Disclaimer: Credit Benchmark does not solicit any action based upon this report, which is not to be construed as an invitation to buy or sell any security or financial instrument. This report is not intended to provide personal investment advice and it does not take into account the investment objectives, financial situation and the particular needs of a particular person who may read this report.

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Credit Benchmark brings together internal credit risk views from over 40 leading global financial institutions. The contributions are anonymized, aggregated, and published in the form of consensus ratings and aggregate analytics to provide an independent, real-world perspective of credit risk. Risk and investment professionals at banks, insurance companies, asset managers and other financial firms use the data for insights into the unrated, monitoring and alerting within their portfolios, benchmarking, assessing and analyzing trends, and fulfilling regulatory requirements and capital.


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