Fitch Releases 2005 Global Corp Fin Transition & Default Study.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. today released its annual global corporate transition and default study, examining Fitch's global corporate ratings performance in 2005 and over the long term, spanning the period 1990-2005. The study offers a detailed view of the historical and recent performance of Fitch's global corporate ratings including data and analysis on the stability of Fitch's corporate ratings, the ability of Fitch's ratings to predict default, and a discussion of Fitch's rating accuracy through the use of Gini coefficients The Gini coefficient is a measure of statistical dispersion most prominently used as a measure of inequality of income distribution or inequality of wealth distribution. It is defined as a ratio with values between 0 and 1: the numerator is the area between the Lorenz curve of the . For the second consecutive year, Fitch's global corporate ratings displayed more stability and far more positive rating volatility than the difficult credit environment of 2000-2003. Across all of Fitch's corporate rating categories, 93% of ratings either remained the same or experienced upgrades in 2005 compared with 88% on an average annual basis over the period 1990-2004. Fitch's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. default rates across the various rating categories continued to show a strong relationship between Fitch's ratings and default risk. The 1990-2005 average annual default rate across Fitch's investment grade corporate ratings, for instance, totaled 0.11% while Fitch's average annual speculative grade default rate was 3.27%. The new study is titled 'Fitch Ratings Global Corporate Finance 1990-2005 Transition and Default Study' and is available on the Fitch Ratings web site at 'www.fitchratings.com' under the 'Credit Market Research' link. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, 'www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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