S&P Global Credit Markets Digest

Business Wire, Sept 3, 2003

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 3, 2003

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

COMING UP:

-- Credit FAQ:Sierra Pacific Resources

-- Consolidation Trend Continues For U.S. Investor-Owned Water

Companies

-- U.S. Mortgage Insurance Overview

-- Adjusting for Off-Balance-Sheet Leases in Transportation

Credit Ratios

-- Credit FAQ: Duke Energy

TELECONFERENCES:

-- Revised Criteria - Municipal Lease Pools, Thu., Sept. 4, 12:00

PM

-- Russian Banking Sector: Thu., Sept. 4, 11:00 AM Eastern Time;

4:00 PM British Standard Time

-- Still Behind Basel II, Standard & Poor's Cites Potential

Strains on Capital Market Development, Wed., Sept. 10, 5:00 PM

Central European Time

-- Quarterly Teleconference, Trends in European Banking, Tue.,

Sept. 23, 10:00 AM.

All times Eastern U.S. unless otherwise noted. For details, please see ratingsdirect.com or standardandpoors.com.

PUBLISHED:

RESEARCH COMMENT

CORPORATES

-- Credit FAQ: Yellow-Roadway Corp.

FINANCIAL SERVICES

-- Asia-Pacific Reinsurance Sees Light at the End of a Long

Tunnel

-- India Banking: Monsoon of Key Reforms Spells Healthier Asset

Quality

-- Industry Report Card Released on Latin American Banks

-- Still Behind Basel II, Standard & Poor's Cites Potential

Strains on Capital Market Development

-- Basel II: No Turning Back for the Banking Industry

SOVEREIGNS

-- Canadian Economy Hampered in Second-Quarter 2003 by Rising

Dollar, SARS

STRUCTURED FINANCE

-- Mirvac Finance: The Continuing Evolution of an Asset Class

U.S. PUBLIC FINANCE

-- S&P Releases Report on U.S. Non-Profit Health Care System

Ratios

RATING ACTIONS

CORPORATE RATINGS

-- Greyhound Lines Ratings Raised and Removed From CreditWatch ;

Outlook Developing

-- Caremark Rx Inc. Plans to Acquire AdvancePCS, Both Companies

On Watch Positive

-- Wella AG Ratings Affirmed, Off Watch After Procter & Gamble

Closes Transaction

-- Ratings on European Defense Group EADS Affirmed at 'A/A-1',

Off Watch; Outlook Negative

-- Vivendi Universal and Vivendi Universal Entertainment on Watch

Positive Pending NBC Merger

-- Beijing Datang's Proposed US$150 Mil. Notes Due 2008 Rated

'BBB'

FINANCIAL SERVICES RATINGS

-- Swedish Insurer Lansforsakringar Sak Forsakrings AB 'A'

Ratings Affirmed; Outlook Stable

-- Taiwan Banking Sector Outlook Revised to Stable from Negative

-- Outlooks to Stable for Bank of Tokyo-Mitsubishi, Mitsubishi

Trust, Sumitomo Trust

-- Ratings on Russian Banks Raised on Improved Economic and

Operating Environment

GLOBAL FIXED INCOME

-- Report: Negative Credit Ratings Momentum May Moderate

for S&P Europe 350

SOVEREIGN RATINGS

-- Korea Development Bank's US$500 Mil. Notes Assigned 'A-'

Rating

STRUCTURED FINANCE RATINGS

-- Preliminary Ratings Assigned in Barclaycard's Fifth Credit

Card Securitization Transaction

-- Preliminary Ratings Assigned in Caixa Economica Montepio

Geral's Portuguese RMBS Transaction

RESEARCH ANALYSES:

CORPORATES

-- PSEG Energy Holdings Inc.

-- Harley-Davidson Inc.

-- EchoStar Communications Corp.

LOCAL & REGIONAL GOVERNMENTS

-- Jalisco (State of)

-- French Polynesia (Territory of)

PUBLIC FINANCE (U.S.)

-- Southern California Metropolitan Water District

STRUCTURED FINANCE

-- New Issue: Banc of America Mortgage Securities Inc. 2003-6

Trust

Copyright (c) 2003, Standard & Poor's Ratings Services