S&P Global Credit Markets Digest -- European Update.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 25, 2003 EUROPEAN UPDATE: Here is the current lineup of top articles and research from Standard & Poor's: COMING UP: -- Adjusting for Off-Balance-Sheet Leases in Airline Credit Ratios -- Credit FAQ (Frequently Asked Questions) A group of commonly asked questions about a subject along with the answers. Vendors often display them on their Web sites for use as troubleshooting guidelines. : Duke Energy -- Credit FAQ: Dow Chemical TELECONFERENCES: For details, please see ratingsdirect.com or standardandpoors.com. PUBLISHED: SPECIAL REPORT: U.S.-CANADA BLACKOUT 2003 -- Electric Utility Blackouts Put Spotlight on Political and Regulatory Credit Risk -- Will the Lights Go Out on the Regional Electricity Transmission Organizations? -- Blackout 2003 Fallout: Overview of Regulation for Investor-Owned Utilities in Affected States -- North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Power Shut-Down Serves as Warning for Security of Aust. & NZ Electricity Supply -- S&P Report Says 2003 Blackout Will Not Deter Economic Recovery in Canada -- Blackout Had Minimal Impact on U.S. Insurance Industry -- FirstEnergy's Ratings Placed on Watch Neg As Blackout May Add to Woes RESEARCH COMMENT CORPORATES -- Credit FAQ: First Energy Corp. -- Home Improvement Retail Sector Remains Stable Despite Continued Weak Economy -- Energy Peer Comparison: El Paso El Paso (ĕl pă`sō), city (1990 pop. 515,342), seat of El Paso co., extreme W Tex., on the Rio Grande opposite Juárez, Mex.; inc. 1873. Corp. and the Williams Cos. Inc. -- Industry Report Card: U.S. Finance Companies -- EU Emissions Trading Emissions trading (or cap and trade) is an administrative approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. Directive Should Drive Change in European Power Sector FINANCIAL SERVICES -- Standard & Poor's Response to the Third Consultative Paper of the New Basel Capital Accord -- Basel II: No Turning Back for the Banking Industry -- Industry Report Card: Singapore Banks -- HVB HVB Hervey Bay, Queensland, Australia (Airport Code) HVB Hawaii Visitors Bureau HVB Central-European International Bank (Hungary) HVB High Volume Breeder (puppy mill) Group Subsidiaries Ratings Remain on CreditWatch Pending Spin-Off GLOBAL FIXED INCOME RESEARCH -- S&P: Salad Days for Emerging-Market Issuance PUBLIC FINANCE -- Selected Mean Ratios for Independent Schools -- While California's Fiscal '04 Local Government Budgets Remain Manageable, Fiscal '05 Poses a Challenge -- No Rating Actions on U.K. Housing Associations After High Court Decision Re. The Salvage Assoc STRUCTURED FINANCE -- U.S. CMBS CMBS See: Commercial Mortgage Backed Securities Issuances Could Reach $70 Billion in 2003 RATING ACTIONS CORPORATE RATINGS -- India's Tata Motors Ltd.'s Proposed US Dollar Convertible Notes Rated 'BB-' -- Ratings on Singapore's PSA (Professional Services Automation) An information system designed to organize, track and manage all opportunities, work, resources, costs, revenues and invoices to improve the productivity and efficiency of the workforce. Corp Affirmed at 'AAA'; Outlook Stable -- Japan's Marubeni Assigned 'B+' Long-Term Rating; Short-Term Rating Withdrawn -- Frontier Oil's Ratings Raised After Merger Is Terminated; Off Watch, Outlook Stable -- BAT Ratings Cut to 'BBB+' Following Acquisition Plans; Off CreditWatch -- Danaher Corp. Assigned Ratings on Shelf Registration and Bank Loan -- Cablevision Systems Corp. Ratings Remain on CreditWatch Negative -- Japan's Fujitsu Downgraded to 'BB+pi' on Slow Recovery -- Cincinnati Bell Inc. Unsecured Debt Unsecured debt Debt that does not identify specific assets that the debtholder is entitled to in case of default. Ratings Placed on CreditWatch Positive FINANCIAL SERVICES RATINGS -- Outlooks on National Bank of Egypt This article is about a commercial bank. For Egypt's central bank, see Central Bank of Egypt. National Bank of Egypt (NBE) is the oldest and largest bank in Egypt, and has 378 branches within the country. and Commercial Intl Bank Revised to Negative; Rtgs Affirmed -- 'AAA/A-1+' Issuer Credit Ratings on Deutsche Ausgleichsbank Withdrawn After Merger with KfW -- UnitedTrust Bank Ratings on CreditWatch Positive After Merger Announcement SOVEREIGN RATINGS -- Egypt Long-Term LC Ratings Cut to 'BBB-' On Fiscal Deterioration; LC and FC Outlooks Negative -- Malta LC Ratings Lowered to 'A+/A-1' Due to Deteriorating Fiscal Prospects; Outlook Stable -- Ratings on Peru Affirmed; Outlook Stable PUBLIC FINANCE RATINGS -- California State Teachers' Retirement System's Credit Enhancement Prog Rating Lowered to 'AA+' STRUCTURED FINANCE RATINGS -- Hilton Hotels Pool Trust Ratings Lowered on Eight Classes From Series 2000-HLT -- Oscar Funding Corp. XI's JPY JPY In currencies, this is the abbreviation for the Japanese Yen. 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. 37.4 Bil Auto Loan Backed Japanese ABS Assigned Preliminary 'AAA' -- ABN AMRO Repackaging Vehicle Issues Synthetic 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 to New Zealand Retail Investors -- Ratings Lowered to 'D' on Two Kmart Corp.-Related Credit Lease Transactions RESEARCH ANALYSES: CORPORATES -- AT&T -- Hyundai Motor Co. -- POSCO POSCO Pohang Iron & Steel Co, Ltd -- Chi Mei Corp. -- Hon Hai Precision Industry Co. Ltd. FINANCIAL SERVICES -- Efiposte -- Banca OPI (Open Prepress Interface) An extension to PostScript that provides color separations. It was developed by Aldus Corporation, which was later acquired by Adobe. SpA -- Korea Exchange Bank Oehwan Bank or Korea Exchange Bank (KEB) (KSE: 004940) is South Korea's only exchange bank company. It is headquartered in Seoul, and was established in 1967. -- Tower Ltd. SOVEREIGNS -- Uruguay (Oriental Republic of) STRUCTURED FINANCE -- RAMP Series 2003-RS6 Trust -- New Issue: HY-FI Securities Ltd. Series 2 -- Household Affinity Credit Card Master Note Trust I -- Household Mortgage Loan Trust 2003-HC1 Copyright (c) 2003, Standard & Poor's Ratings Services |
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