S&P Global Credit Markets Digest.

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 12, 2002

Here is the current lineup of top articles and research from Standard & Poor's Credit Information Services:

COMING UP:

-- Iraq Uncertainty Blurs Near-term Oil Price Picture

-- U.S. Regulatory Bodies' Stances on Fuel and Purchased Power Recovery

-- Industry Report Card: Credit Cards

-- Tax-Exempt Housing: Challenges and Opportunities

-- 2002 Project, Power & Energy Credit Conference: Testing the Credit Limits

-- Regional Transmission Organization in the U.S. West

-- Mutual Fund Securitizations: A Surveillance Perspective

-- Importance of University Endowment Buildup

UPCOMING TELECONFERENCES

-- Global Sector Review: Consumer Products Industry, Wednesday,

Nov. 13 at 10:00 A.M.

-- Higher Education Outlook, Thursday, Nov. 14 at 2:00 P.M.

(For details please see www.ratingsdirect.standardandpoors.com or www.standardandpoors.com. All times U.S. Eastern.)

PUBLISHED:

RESEARCH REPORTS

CORPORATES

-- Media & Entertainment Are Rebounding But Economy Is the

Weakest Link

-- U.S. Cable and Local Telephone Carriers Compete for High-Speed

Residential Data Users

-- Accumulated Debt in the Spotlight as European Media Issuers

Grapple Advertising Slump

-- Stability Returns to the European Investment-Grade

Telecommunications Sector

-- Local Currency Rating Criteria Update: The Importance of

Country Risk for Corporate and Infrastructure Sectors

-- European Corporates' Poor Disclosure Confirms Pensions as a

High-Profile Issue

-- The U.S. Telecom Industry: An Overview

GLOBAL FIXED INCOME RESEARCH

-- U.S. Economic Forecast: A Cold Winter

-- S&P: Weakest Links & Monthly Default Rates for Global Bond

Markets

-- S&P: Despite Brazilian Uncertainty, Emerging-Market Corporate

Credit Quality Relatively Stable

FINANCIAL SERVICES

-- Blues Increasingly Turn to For-Profit Status

-- Asia-Pacific Insurance Industry Likely to See Further Failures

in 2003

-- Exposure to Troubled Merchant Energy Sector May Dim Financial

Institutions' Ratings Future

STRUCTURED FINANCE

-- Standard & Poor's Cuts Structured Finance Transaction Minimum

Reinvestment Rate Assumptions

-- CDO Manager Focus: Fortis Investment Management - Emerging

Sovereign Debt Report Issued in Conjunction with the Rating of

Premium Emerging Managed Capital I B.V.

-- CDO Manager Focus Report Released on U.K.-Based Intermediate

Capital Managers Ltd.

-- Closed-End Leveraged Funds: Criteria and Rating Process

PUBLIC FINANCE

-- S&P Revises State Revolving Funds and Long-Term Pool Ratings

Criteria

SOVEREIGNS

-- Colombia at a Crossroads

-- Japan's Anti-Deflation Package: Another Chance at Reform

Missed

-- New Turkish Government is Not Expected to Make Major Economic

Policy Changes

RATING ACTIONS

CORPORATE RATINGS

-- El Paso Corp. Ratings Lowered to 'BBB'; Still Watch Negative

-- NTELOS Inc. Ratings Lowered and Placed on CreditWatch Negative

-- Union Planters Corp. Ratings Affirmed; Outlook Revised to

Positive From Stable

-- SBA Communications Corp. Ratings Lowered, Still on CreditWatch

Negative

-- Baxter International Inc.'s Ratings Affirmed; Preliminary

Universal Shelf Rated

-- S.C. Johnson & Son Inc. Long-Term Ratings Lowered and Off

Watch

FINANCIAL SERVICES RATINGS

-- Blue Cross & Blue Shield of Rhode Island 'BBB-' Ratings

Affirmed; Outlook Revised to Positive

-- Outlook on AmSouth Bancorp. Revised to Stable; Ratings

Affirmed

-- Commerzbank AG's Third-Quarter Loss Underscores Negative

Outlook

-- Ratings on IntesaBci SpA, Italy's Largest Bank, Cut to

'A-/A-2'; Outlook Stable

SOVEREIGN RATINGS

-- Outlook on Ukraine Revised to Negative Due to Persistent

Fiscal and Structural Reform Delays

-- South Africa Outlook Revised to Positive From Stable; Ratings

Affirmed

STRUCTURED FINANCE RATINGS

-- Citicorp Mortgage Securities Inc. Ratings Raised and Affirmed

on Various Transactions

-- Robeco CBO I Ltd. Ratings Lowered on Class C,D, and E Notes,

and OffWatch; A, B Notes Affirmed

-- Australia's Subprime Mortgage Lender Bluestone Issues Its

Second RMBS Deal

-- Aon Capital A-Related Synthetic Ratings Affirmed; Off

CreditWatch

RESEARCH ANALYSIS

CORPORATES

-- Pinnacle Foods Corp.

-- Ingersoll-Rand Co.

-- Marubeni Corp.

-- Deutsche Diversified Trust

-- Hertz Corp.

-- AES Eastern Energy L.P.

FINANCIAL SERVICES

-- American Income Life Insurance Co.

-- Globe Life & Accident Insurance Co.

-- Commerce Bancshares Inc.

-- The Northwestern Mutual Life Insurance Co.

-- Credit Agricole Indosuez S.A.

-- Cincinnati Insurance Co., Cincinnati Casualty Co. and

Cincinnati Indemnity Co.

STRUCTURED FINANCE

-- New Issue: Alternative Loan Trust 2002-14

Copyright 2002, Standard & Poor's Ratings Services