S&P Global Credit Markets Digest -- Asia-Pacific Update.Business Editors
NEW YORK--(BUSINESS WIRE)--Standard & Poor's
Oct. 4, 2002--ASIA-PACIFIC UPDATE
Here is the current lineup of top articles and research from Standard & Poor's Credit Information Services See Information Systems. :
-- United American Energy Gains Strength Through a Strategic Acquisition -- Is State Utility Regulation Coming Back Into Vogue? -- Near-Term Global Tobacco Outlook Remains Stable -- Germany's E.ON AG Acquires LG&E Energy -- Monthly U.S. Energy Commodity Pricing Report -- Property Tax: The Underused Tax of Mexican Municipalities -- European Local Government Financing Systems -- Analytical Tools and Methodologies for Assessing U.S. Utilities -- The Credit Costs of Partial Electric Restructuring
-- Standard & Poor's Identifies Global Bond Markets' Weakest
-- Industry Report Card Released on European Media &
Entertainment, Leisure, and Lodging
-- U.S. Capital Goods Capital Goods
Any goods used by an organization to produce other goods.
Examples of capital goods include office buildings, equipment, and machinery.
See also: Capital Expenditure, Disinvestment
Capital goods Recovery Blurred by Unclear Economic Data
-- Industry Report Card: Japanese Real Estate Companies
-- U.S. Energy Commodity Pricing Assumptions Are Revised
-- European Utility Ratings Continue to Slide
-- Europe's Homebuilders Capitalize on Strong Housing Markets
GLOBAL FIXED INCOME RESEARCH
-- Standard & Poor's Identifies 'Waiting to Exhale' List
-- Criteria for Lloyd's Syndicate Assessments
-- Taiwan Brings Fresh Impetus to Asian Securitization Market
-- Report: Methodological Framework Outlined for Canadian
-- Bank Industry Risk Analysis: Japan
-- Unemployment More Critical for Hong Kong Banks Than Falling
-- Report Discusses Stresses Affecting Public Pension Funds
-- U.S. Housing Finance Agency Financial Ratios: Positive Results
in Changing Times
-- Managing Negative Arbitrage in Housing Bonds
-- Capital Market Trends in the Gulf Cooperation Council
-- Asia: External Strength Can Mask Internal Weakness
-- Sovereign Defaults Set to Rise Further in 2003
-- Manager Focus Report on BlackRock Financial's U.S. High Yield
-- European CLOs of Loans to SMEs Show Strong Performance Despite
Threat of Potential Negative Credit Migration
-- ABS East Conference: S&P CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the Analysts Continue to Stress
Importance of Collateral-Mgr Scrutiny
-- European CDO Transactions Embrace Synthetic Technology
-- Version 2 of Standard & Poor's CDO Evaluator Sets a New
Standard in CDO Analyses
-- European SIV SIV simian immunodeficiency virus. Managers Look to the Expanding Credit
-- Derivatives Market as Investment Options
-- Analytical Treatment of Mismatched Mandatory Convertible Mandatory Convertible
A type of convertible bond that has a required conversion or redemption feature. Either on or before a contractual conversion date, the holder must convert the mandatory convertible into the underlying common stock. Debt
-- Alcoa of Australia's Long-Term Rating Lowered to 'A'; Outlook
-- Liz Claiborne Inc.'s Proposed $750M Unsecured Bank Facility
-- Viasystems Group Inc. Ratings Lowered to 'D' on Bankruptcy
-- Guidant Ratings Affirmed; Outlook Revised to Negative
-- IPALCO IPALCO Indianapolis Power and Light Company Enterprises Inc.'s, Sub's Ratings Lowered to 'BB+' on
AES Corp. Downgrade
-- AES Corp. Rating Lowered to 'B+'; Placed on CreditWatch
-- Telewest Corporate Credit Ratings Cut to 'SD' After Interest
-- Advanced Micro Devices Inc. Outlook Revised to Negative on
Revenue Drop in September Quarter
-- Emerson Electric Co.'s $250 Million Senior Unsecured Notes
Rated 'A', Ratings Affirmed
-- Wal-Mart Funding Corp. Commercial Paper Program Placed on
-- Autolink Concessionaires (M6) PLC 'BBB+' Underlying and 'AAA'
Insured Bond Insured bond
A municipal bond backed both by the credit of the municipal issuer and by commercial insurance policies.
A municipal debt obligation for which interest and principal are guaranteed by a private insurance company. Rtgs Affirmed
-- Railtrack PLC's 'BB+/B' Rtgs Withdrawn Following Takeover by
-- JSC JSC Johnson Space Center (NASA)
JSC Joint Stock Company
JSC Java Studio Creator
JSC Joint Steering Committee
JSC Joint Standing Committee
JSC Journal of Symbolic Computation
JSC Joint Scientific Committee Vimpel-Communications Outlook Revised to Positive from
Stable; Ratings Affirmed
-- Ratings on Malaysian Power Company Tenaga Affirmed at 'BBB';
-- Taiwan's Compal Electronics' US$300 Mil. Bonds Due 2007 Rated
-- Goodrich Corp. Corporate Credit Rating Lowered to 'BBB', Off
Watch; Outlook Stable
-- Dyckerhoff's Long-Term Rating Lowered to 'BB', Short-Term to
'B'; Off Watch; Outlook Stable
FINANCIAL SERVICES RATINGS
-- Swiss Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Co and Core Subsidiaries Ratings Lowered to
'AA+'; Off Watch; Outlook Stable
-- NRMA NRMA National Roads & Motorists' Association (Australia)
NRMA National Reloading Manufacturers Association
NRMA Natural Resource Management Area
NRMA National Resources Mobilization Act (Canada) Insurance Ratings Lowered to 'AA'; Outlook Stable
-- Ratings on Credit Suisse Group and Related Entities Placed On
-- Long-Term Ratings on PHH PHH Provinciale Handelsschool Hasselt (school)
PHH Pasukan Anti Huru-Hara (Anti Riot Task Force)
PHH Phillips Head (screw)
PHH Planar Halogenated Hydrocarbon Corp. Lowered and Removed from
-- Outlook on Comercia Inc. Revised to Negative; Ratings Affirmed
-- CIGNA CIGNA CG (Connecticut General Life Insurance Company) INA (Insurance Company of North America) Corp. and Subsidiary Ratings Lowered and Removed from
CreditWatch; Outlook Stable
STRUCTURED FINANCE RATINGS
-- J.P. Morgan Commercial Mortgage Finance Corp. Ratings Affirmed
on Series 1999-C8
-- HomEq Mortgage Pass-Through Certificate Pass-through Certificate
Fixed-income securities that represent an undivided interest in a pool of federally insured mortgages put together by the Government National Mortgage Association (Ginnie Mae). Ratings Affirmed on 20
-- Rating Lowered on CDO Master Investments C Notes due to
Deteriorating Portfolio; A, B Affirmed
-- CS First Boston Mortgage Securities Corp. Ratings Raised and
Affirmed on Series 1995-WF1
-- Ratings on Six Classes of TCW TCW Total Carat Weight
TCW Temporal Cold War (Star Trek Enterprise)
TCW Troop Carrier Wing
TCW Turnbuckle Championship Wrestling
TCW Tasty Coma Wife (Scrubs episode) LINC III CBO CBO
See: Collateralized Bond Obligation. Ltd. Put on
CreditWatch; A-1L Rating Affirmed
-- North Oakland Medical Center, MI Debt Rating Removed From
Watch Negative; Lowered to 'BB'
-- TBTA's $262 Million Series 2002D Subordinate Revenue Bonds
LOCAL AND REGIONAL GOVERNMENTS
-- State of Yucatan and City of Merida, Mexico Ratings Not
Affected by "Isidore"
-- National Thermal Power Corp.
-- Duquesne Light Co.
-- Husky Energy Inc.
-- Fuji Photo Film Co. Ltd.
-- United Globalcom Inc.
-- Invensys PLC
-- PG&E National Energy Group Inc.
-- Statoil ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and
-- Hartford Life Insurance Co. Intercompany Pool
-- Pacific Guardian Life Insurance Co. Ltd.
-- Vseobecna Uverova Banka, a.s.
-- Caisse Centrale de Reassurance
-- GE Mortgage Insurance Pty Ltd.
-- Health Net of California Inc. and Other Key Subsidiaries of
Health Net Inc.
-- Providian Financial Corp.
-- Credit Municipal de Paris
LOCAL & REGIONAL GOVERNMENTS
-- State of Tlaxcala, Mexico
-- Boulogne-Billancourt (City of)
-- City of Hermosillo, Mexico
-- New Issue: Centex Home Equity Loan Trust 2002-C
-- New Issue: Stanfield Victoria Finance Ltd.
-- New Issue: Impac CMB Noun 1. CMB - (cosmology) the cooled remnant of the hot big bang that fills the entire universe and can be observed today with an average temperature of about 2. Trust Series 2002-5
-- New Issue: F.A.B. CBO 2002-1 B.V.
-- New Issue: DaimlerChrysler Auto Trust 2002-B
-- New Issue: 2002-CB4 Trust
Copyright 2002, Standard & Poor's Ratings Services