S&P Global Credit Markets Digest -- European Update.Business Editors NEW YORK--(BUSINESS WIRE)--April 23, 2003 Standard & Poor's-- EUROPEAN UPDATE: Here is the current lineup of top articles and research from Standard & Poor's: COMING UP -- Weak Practices Hinder Asset Quality Accounting By Emerging Asian Banks -- Greater China Corporate Report Card -- Standard & Poor's Updates Refinancing Needs for the Energy Merchant Sector -- Pride International's Offshore Fleet Mitigates Re-Contracting Risk -- Negative Trend Continued For U.S. Utilities in First Quarter -- U.S. Industry Report Card: Utilities -- U.S. Industry Report Card: Oil & Gas UPCOMING TELECONFERENCES: -- North American Building Materials, Homebuilder, and Home Center Retail Credit Quality. Thurs., June 12, 10 AM -- Forest Products Credit Quality, Tues., June 17, 10 AM All times U.S. Eastern. For complete details see ratingsdirect.com or standardandpoors.com PUBLISHED: RESEARCH REPORTS CORPORATES -- Industry Report Card: Australian Utilities -- The Importance of Credit Ratings for the Development of Capital Markets. (Excerpt from a speech by Standard & Poor's President Leo Leo, in astronomy Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. C. O'Neill to a forum sponsored by the United Nations Development Programme (UNDP UNDP United Nations Development Programme UNDP Unión Nacional para la Democracia y el Progreso (National Union for Democracy and Progress) ), the African Stock Exchanges Association, and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. on African Capital Market Development: The Role of the Stock Exchange.) -- Dynegy $1.66 Billion Bank Loan Rating Analysis -- Speculative-Grade U.S. Telecom and Cable Debt Due by 2005 Totals $19B GLOBAL FIXED INCOME -- Global Default Rates Remain Above Average, Dollar Amounts Decrease in First Quarter of 2003 FINANCIAL SERVICES -- Thai Life Insurance Industry: Large Insurers Overshadow Smaller Peers -- Thai General Insurance Industry: Overcrowding overcrowding overcrowding of animal accommodation. Many countries now publish codes of practice which define what the appropriate volumetric allowances should be for each species of animal when they are housed indoors. Breaches of these codes is overcrowding. Points to Likely Shakeout -- Industry Report Card Released on North American Life Insurance Companies U.S. PUBLIC FINANCE -- Credit-FAQs: Net-Billed Projects Secured by Bonneville Power Administration STRUCTURED FINANCE -- Rating U.S. Letter of Credit-Backed Bonds CORPORATE GOVERNANCE -- Effective Board Committees Promise Strengthened Corporate Governance in Japan RATING ACTIONS CORPORATE RATINGS -- Hungarian Telecoms Company Matav 'BBB+' Ratings Affirmed; Outlook Stable -- Hong Kong's Hysan 'BBB' Rating Affirmed; Outlook Revised to Negative from Stable -- AlintaGas Ltd.'s Ratings Affirmed; off CreditWatch -- Sibneft 'B+' Rating on Watch Pos, Yukos Affirmed at 'BB/Stable' After Announced Merger Plan -- American Ref-Fuel Co. LLC's Corp Credit Rtg Affirmed and Sr Secured Notes Rated 'BBB'/Stable -- Ratings on Steelcase Inc. and Herman Miller Inc. Lowered to 'BBB'; Knoll Affirmed at 'BB' -- Gala Group Holdings PLC Ratings Lowered to 'B+' on Recapitalization; Off Watch; Outlook Stable -- Korea's SK Corp. Still on CreditWatch Negative -- Rating on Philippine Long Distance Telephone Co. Affirmed at 'BB'; Outlook Stable -- Tranz Rail's Rating Lowered to 'CCC'; Still on WatchNeg, After Carter Holt Harvey Carter Holt Harvey is an Australasian forest products company, with significant interests in wood products, pulp, paper and packaging. The company employs approximately 10,500 people across Australasia. Statement FINANCIAL SERVICES RATINGS -- Munich Re Finance B.V.'s EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3 Bil Notes Due 2023 and GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 300 Mil 7.625% Notes Due 2028 Rated 'A' -- Ratings on Shinhan, Chohung Banks Remain on CreditWatch as Deal Negotiations Intensify -- Lumley Group Ratings Affirmed; Off CreditWatch; Outlook Developing -- Ratings on Two Australian Health Insurers Downgraded -- Banca Popolare di Cremona on CreditWatch Developing After Share Capital Buyout Offer -- Outlook on Fremont General Corp. Revised to Stable; Ratings Affirmed U.S. PUBLIC FINANCE RATINGS -- Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, Bonds Rated 'AAA' STRUCTURED FINANCE RATINGS -- Preliminary Ratings Assigned in Dutch NIB nib n. The smooth or serrated portion of a dental instrument that comes into contact with restorative material being condensed. nib, n Capital Bank N.V.'s First Synthetic CLO CLO See: Collateralized Loan Obligation. Transaction -- Ratings on Various Tobacco Settlement Revenue, Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Settlement Deals Lowered; On Watch LOCAL AND REGIONAL GOVERNMENT RATINGS -- City of Zitacuaro Assigned 'mxBBB-' National Scale Rating and Stable Outlook -- City of Szczecin's Proposed No. 4 and No. 5 Senior Unsecured Bonds Assigned 'BBB' Rating RESEARCH ANALYSIS CORPORATES -- American Ref-Fuel Co. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control -- Smith's Group PLC -- Inter Auto Parts Italia SpA -- UNIBAIL HOLDING FINANCIAL SERVICES -- AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery Insurance Ltd. Copyright (c) 2003, Standard & Poor's Ratings Services |
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