S&P Global Credit Markets Digest

Business Wire, Nov 4, 2002

Business Editors

NEW YORK--(BUSINESS WIRE)--Standard & Poor's

Nov. 4, 2002--Here is the current lineup of top articles and research from Standard & Poor's Credit Information Services:

COMING UP:

-- Sleepless Nights Ahead for Global Lodging Sector

-- Importance of University Endowment Buildup

-- Living Longer has Long-Term Ramifications for State & Local Governments

-- Long-Term Supply Contracts and Set-Off Issues

-- Results of U.S. Bond, Referendum, and Initiative Ballots

-- Depending on War Scenario, Oil Prices Worldwide Would Jolt Differently

-- Monthly U.S. Energy Commodity Report

-- Criteria for Multilateral Lending Institutions

-- Property Catastrophe Rate Increases Vary by Account Size and Region

-- Southeast Asian Sovereign Credit Quality: Heading in the Right Direction

UPCOMING TELECONFERENCES

-- Third Quarter Operating Performance of the Major U.S. Banks,

Tuesday, Nov. 5, 2002 at 11:00 A.M.

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

PUBLISHED:

RESEARCH REPORTS

CORPORATES

-- Russia's Ruble Bond Market Vulnerable to Defaults

-- Ratings Pressure Increases on Oil & Gas Refining and Marketing

-- S&P Comments on Impact of U.S.-Canada Lumber Dispute

-- Is Growth Bad for U.S. Electric Transmission and Distribution

Utilities?

-- Brand Services Poised to Benefit From More Refiner Spending,

New Power Plants

-- Industry Report Card Released on U.S. Consumer Product Sector

-- Industry Report Card: Greater China Corporates

-- Industry Report Card: International Airports

-- Industry Report Card Released on U.S. Mortgage and Title

Insurers

GLOBAL FIXED INCOME RESEARCH

-- Enough With the Tricks, Here are Some Treats

-- U.S. Nonfinancial Forecast and Third Quarter 2002 Update Now

Available

-- EU Default Rate Maintains Lead Over its Global Counterparts

-- Credit Lens Focus on Standard & Poor's Bond Ratings of the S&P

500 Index

FINANCIAL SERVICES

-- Congressman Oxley, AIG CEO Greenberg to Address S&P's

Property/Casualty Conference

-- Argentine Banks Report Poor First Quarter 2002 as Expected

-- Bank Industry Risk Analysis: Singapore

-- Japan's Anti-Deflation Package Shies Away from Hard Decisions

-- Industry Report Card Released on U.S. Fee-Based Banks

-- Sophistication is Key to Stability for Global Insurance Market

STRUCTURED FINANCE

-- The Effect of Dependent Rating Changes on ABCP Ratings

-- Quarterly High CLTV Matrix: Charge-Offs Increase at Decreasing

Rate, 90-Plus Delinquencies Fall

-- Standard & Poor's Releases Third-Quarter Trends for RMBS

SOVEREIGNS

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

Policy Changes

-- Sovereign Ratings History Since 1975

-- Chilean Electric Sector Is at a Crossroads

RATING ACTIONS

CORPORATE RATINGS

-- Unilever Capital Corp.'s $1 Bil. Senior Notes Issue Assigned

'A ' Senior Unsecured Debt Rating

-- Taiwan's Mosel Vitelic Downgraded to 'CCC ', Outlook Negative

-- ITT Industries Inc. Outlook Revised to Positive; Financial

Profile Seen Strengthening More

-- Neff Corp. Placed on CreditWatch Negative for Noncompliance

With Credit Agreement

-- Talisman Energy Inc. Outlook Revised to Stable on Sale of

Sudan Assets; Ratings Affirmed

-- Mayne Logistics' Trade Sale Announcement Has No Immediate

Rating Impact

FINANCIAL SERVICES RATINGS

-- P.T. Bank Negara Indonesia Proposed US$75 Mil. Notes Rated

'CCC'

STRUCTURED FINANCE RATINGS

-- Allmerica Financial Corp.-Related Synthetic Ratings Affirmed

and Off CreditWatch Negative

-- Proposed Removal of Cash Collateral to Impact Silver Bullet

Securitisation Series 1 CP Rating

RESEARCH ANALYSIS

CORPORATES

-- EVN AG

FINANCIAL SERVICES

-- Royal & Sun Alliance Insurance Group PLC

Copyright 2002, Standard & Poor's Ratings Services