A report by rating agency Standard & Poor’s has shed light on the continued improvement of corporate credit quality in the US.
According to S&P, the US downgrade ratio ? the ratio of downgrades to total rating actions ? declined to 62% in the fourth quarter of 2004, bringing it in line with the 18- year downgrade average. This is a substantial improvement from the 70% recorded a year earlier.
In the fourth quarter of 2004, there were 61 upgrades and 98 downgrades recorded, which is an increase in upgrades and a decrease in downgrades compared with the fourth quarter of 2003.
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