This is an interesting datapoint, and relevant for all the double-dippers out there:
“U.S. credit-rating upgrades are poised to exceed downgrades this quarter for the first time since before markets froze as the economic recovery boosts company profits.
Standard & Poor’s lifted the ratings of 244 U.S. issuers, while cutting 211, according to data compiled by Bloomberg. Moody’s Investors Service upgraded 205 borrowers and lowered ratings on 131. Upgrades haven’t surpassed downgrades since the second quarter of 2007.
Corporate profits in the U.S. rose at the fastest pace since 1984 in the first three months of this year. Cash levels at investment-grade borrowers have surged 15 percent from a year earlier while debt has fallen 2 percent, according to JPMorgan Chase & Co., suggesting corporations are healthy enough to weather a slowing economy.”
Bond Upgrades Top Cuts for First Time Since ‘07
John Glover and Sapna Maheshwari
Bloomberg, June 29 2010
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.