Credit Benchmark has published the latest monthly credit consensus data (from August 2019) based on contributions from 40+ financial institutions, covering 50,000 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:

• 321 obligors improved their credit standing by at least one notch.
• 345 obligors deteriorated.
• 57 moved more than one notch.
• The frequency of upgrades and downgrades has slightly decreased.

Last month showed improvements across 324 obligors and deterioration across 356, with 66 moving by more than one notch.

Industries:

• Upgrades
  dominate downgrades in four out of the ten reported industries and five out of
  ten have more downgrades.

• The
  industries showing an improvement in credit quality include:
  • Financials
    with 112 upgrades and 84 downgrades.
  • Oil
    & Gas with 21 upgrades and seven downgrades.
  • Health
    Care with seven upgrades and three downgrades.

• The
  industries showing deteriorations are:
  • Consumer
    Services with 18 upgrades and 47 downgrades.
  • Industrials
    with 21 upgrades and 42 downgrades.
  • Technology
    with three upgrades and 12 downgrades.

Note: Monthly upgrade / downgrade movement is based on 26,000 individual Consensus PDs.

To learn more about consensus ratings and analytics from Credit Benchmark, contact us.

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.