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Article: Emerging market bonds back in favour.
- Article from:
- Financial News
- Article date:
- November 23, 2003
CopyrightCOPYRIGHT 2003 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Vivek Ahuja
Demand for emerging market debt has increased on the back of a surge in credit quality in the asset class. During the third quarter, there were more rating upgrades than downgrades for the first time in almost four years.Standard & Poor's, the ratings agency, said in a new report that downgrades represented only 35% of the rating actions on emerging market borrowers in the third quarter - the lowest proportion since the final quarter of 1999. Downgrades accounted for more than half of S&P's rating actions in the second quarter and almost two thirds in the first quarter.
There were more upgrades than downgrades for the first time since ...