Financial Institutions

As part of its Request for Comment entitled Expanding Recovery Rating Coverage And Enhancing Issue Ratings dated October 4th 2006, Standard & Poor’s Rating Services announced its intention, subject to market feedback and sufficient data, to publish recovery ratings on sub-investment grade financial institutions globally. We have already issued recovery ratings on a small number of finance companies in the United States, but this initiative is much broader and would cover licensed banking institutions and other financial institutions globally. Whilst the new recovery rating scale has been published (please refer to Background section for more details), we have not yet completed our work on the criteria, but will be communicating to the market as soon as it is published.

For more information contact:
Laura Feinland Katz: +1 (212) 438 7893
Angelica Bala: +52 (55) 5081 4405