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Date	Synopsis	Length
5/16/2012	U.S. Regulated Electric Utilities Face Higher Costs Under New EPA Rules, But Credit Quality Won't Likely Weaken The U.S. Environmental Protection Agency’s (EPA) new emission rules will increase costs for some U.S. regulated electric utilities. Customers’ monthly electric bills will likely spike as a result of the new rules. However, Standard & Poor’s expects regulated utilities will fully recover the mandated environmental costs, preserving their credit quality. In this CreditMatters TV segment, Director Gabe Grosberg discusses the new rules and their likely impact on electric utilities.	00:04:26
5/16/2012	Mexico's New Administration Will Likely Maintain Prudent Economic Policies Over the past 15 years, Mexico has adhered to prudent economic policies. As the country heads into a general election on July 1st, Standard & Poor's believes that the new administration will maintain these policies. In this segment of CreditMatters TV, Managing Director Lisa Schineller discusses the state of the country's corporate, financial, and industrial sectors, and the prospects for Mexico’s stable economy.	00:09:47
5/16/2012	Medical Device Companies’ U.S. Cash Shortfalls Stem From Global Economic Weakness The U.S. medical device companies that Standard & Poor's rates usually generate between 40% and 60% of their revenues from international sources. However, some companies’ U.S. cash needs outpace their U.S. cash sources. The weak global economy has exacerbated this mismatch. In this CreditMatters TV segment, Director Cheryl Richer discusses how companies are managing the situation. Topics include dividend and share repurchasing programs, acquisitions, rating implications, and pinpointing companies at risk.	00:06:09
5/16/2012	U.S. Recovery Helps Boost Leading Capital Goods Companies' First-Quarter Revenues Overall revenue growth increased modestly for the top-10 investment-grade rated U.S. capital goods companies in the first quarter. A continuing industrial recovery in the U.S. helped bolster results. However, Standard & Poor's expects growth to decelerate as the year progresses. In this CreditMatters TV segment, Director Dan Picciotto discusses the major trends shaping the industry and what could lie ahead. Topics include how the overall performance of the leading companies serve as bellwethers for the broader sector, our ratings outlook, how companies manage risk between major markets, such as China, Europe, and the U.S., and M&A activity.	00:07:59
5/16/2012	Newell Rubbermaid Launches “Project Renewal” To Boost Growth And Cut Costs Late last year, consumer products company Newell Rubbermaid (BBB-/Stable) announced “Project Renewal,” a 2012 cost restructuring initiative to streamline the company’s organizational structure and increase investment in brand building and product innovation, especially in emerging markets. In this podcast, Standard & Poor’s credit analyst Brian Milligan discusses our take on the company’s strategy, how it could play out in Brazil, Mexico, and China, and what could move our rating on the company up or down.	00:05:42
5/15/2012	Mexico's Presidential Election Won't Likely Shake Up The Country's Banking Sector Standard & Poor’s doesn't expect Mexico’s presidential election on July 1st to hamper the country's banking industry, regardless of who becomes the next leader. In this CreditMatters TV segment, Standard & Poor's Managing Director Santiago Carniado and Associate Director Alfredo Calvo discuss what's behind the industry's strengthening position. Carniado and Calvo also comment on the potential problems that could face the sector due to volatility in the international markets and the European debt crisis.	00:04:46
5/15/2012	Improbable que la elección presidencial de México afecte el sector bancario del país Standard & Poor’s no espera que la elección presidencial del 1 de julio en México afecte la industria bancaria del país, independientemente de quien sea el próximo presidente. En este segmento de CreditMatters TV, Santiago Carniado, Managing Director de Standard & Poor’s y Alfredo Calvo, Associate Director, analizan los factores detrás de la sólida posición del sector. Asimismo, comentan sobre los potenciales problemas que podría afrontar la industria bancaria de México debido a la volatilidad en los mercados internacionales y a la crisis de la deuda en Europa.	00:04:34
5/14/2012	U.S. And Euro Bond Yield Curves Signal Diverging Economic Prospects The bond markets are notorious for acting like vengeful vigilantes of the world's economies. Despite the best intentions of central banks, governments, and corporations, bond markets can make or break an economy with the interest rates that they can impose. And right now the bond markets are highlighting how different the economic prospects are for the U.S. and the Eurozone. In this edition of Capital Markets Update, Standard & Poor's Senior Director Peter Rigby discusses what corporate bond yield curves are indicating for the U.S. and Eurozone economies and how they corroborate with our credit rating outlooks.	00:05:09
5/14/2012	What's Behind Our View On The European Retail Sector Rating headroom for European retailers is likely to shrink as the weak economy continues to take a toll on top lines and profitability. In this CreditMatters TV segment, Standard & Poor's Director Raam Ratnam explains what's behind this view and looks at the effectiveness of retailers’ financial policies in sustaining credit quality in this environment.	00:06:20
5/14/2012	U.S. Speculative-Grade Rated Companies Will Struggle To Sustain EBITDA And Revenue Growth U.S. speculative-grade rated companies' (those rated 'BB+' or below) EBITDA growth outpaced revenue growth from the end of the recession in 2009 until midyear 2011. However, EBITDA growth slowed and the trend reversed itself in the second half of 2011, indicating that companies may have run out of ways to further boost their bottom lines through cost cuts. In this CreditMatters TV segment, Standard & Poor's Director Vishal Merani explains why it may be harder for EBITDA growth to outpace revenue growth in 2012.	00:07:02
5/14/2012	Basel 2.5's Impact On Investment Banking Returns In this CreditMatters TV segment, Standard & Poor's Director Thierry Grunspan explains the new Basel 2.5 regulations and examines their impact on banks with large investment banking operations.	00:16:51
5/14/2012	What Impact Will Mexico's Elections Have On Its Corporate Sector? How could political developments in Mexico during the next two months or the outcome of federal elections affect the country's business conditions and corporate sector? In this CreditMatters TV segment, Director Patricia Calvo discusses our outlook for the corporate sector for 2012 and 2013.	00:06:01
5/14/2012	¿Cómo impactarán las elecciones en México al sector corporativo del país? ¿Cómo podrían afectar los acontecimientos políticos que ocurrirán en México en los próximos dos meses, o bien el resultado de las elecciones federales a las condiciones de negocio del país y al sector corporativo? En este segmento de CreditMatters TV, Patricia Calvo, directora en Standard & Poor's, explica nuestras expectativas para el sector corporativo en 2012 y 2013.	00:06:29
5/11/2012	Standard & Poor's Requests Performance Metrics For Global ABCP Conduits To improve its ratings surveillance process, Standard & Poor's requests transaction performance metrics from sponsors and administrators of global asset-backed commercial paper (ABCP) conduits, including program and transaction level liability information, credit enhancement, and asset performance details. In this CreditMatters TV segment, Director Dev Vithani discusses the main takeaways from our recently published article on the subject. Topics include reporting dates and the specific content deliverables requested.	00:05:39
5/11/2012	How United Rentals' Acquisition Of RSC Equipment Could Play Out United Rentals Inc. (B/Positive), the No. 1 equipment rental company in the U.S., recently completed the acquisition of its largest competitor, RSC Equipment Rental Inc. In this CreditMatters TV segment, Directors Sarah Wyeth and John Sico discuss the rating implications of the transaction and the outlook for the broader equipment rental segment. Topics include why the transaction will benefit United Rentals’ business risk profile and pricing power, integration risks, and why more M&A will likely occur in the segment.	00:05:26
5/11/2012	Lower U.S. Natural Gas Price Assumptions Fuel Standard & Poor’s Rating Actions On Six Oil And Gas Producers Standard & Poor’s recently lowered its U.S. natural gas pricing assumptions for 2012, 2013, and 2014 due to, among other things, the unrelenting supply growth driven by drilling efficiencies in North American shale plays. As a result, we took rating actions on six oil and gas producers: Comstock Resources Inc., Exco Resources Inc., Quicksilver Resources Inc., Bill Barrett Corp., NFR Energy LLC, and RAAM Global Energy Co. In this CreditMatters TV segment, Director Carin Dehne-Kiley takes an in-depth look at our rating actions and what could be in store for natural gas prices.	00:03:51
5/11/2012	¿Que curso seguirá la Industria de la Vivienda en México frente a las próximas elecciones? ¿Como pueden afectar las elecciones de México al sector de la vivienda en el país? ¿Están preparados los desarrolladores de vivienda ante los retos que presentan la sustentabilidad, los cambios en la regulación y para atacar nuevos mercados? En este segmento de televisión CreditMatters TV, Fernanda Hernández, Associate en Standard & Poor's comenta las tendencias clave que definen el sector y nuestras expectativas para el mediano plazo.	00:07:32
5/11/2012	With Elections Looming, What's In Store For Mexico's Housing Industry? Will Mexico's upcoming elections lay a new foundation for Mexico's housing sector? Are homebuilders prepared to address sustainability, adapt to changes in regulation, and shape new markets?In this CreditMatters TV segment, Standard & Poor's Associate Fernanda Hernandez discusses the key trends shaping the sector and our expectations for the intermediate term.	00:06:43
5/11/2012	The Rieger Report: High-Yield Munis Continue Delivering Greater Returns High-yield municipal bonds continue to outperform the general bond market, returning more than 8.5% so far in 2012 as measured by the S&P Municipal High Yield Index. Overall, municipal bonds continue to deliver higher returns than U.S. Treasuries and commodities, but lag U.S. equity returns. Listen to this week’s Rieger Report for the complete perspective…	00:05:48
5/11/2012	What Impact Will Mexico's Elections Have On Its Structured Finance Markets? Mexico's upcoming presidential election--its first since the global economic recession began in 2008--is causing concern among market participants about the prospects for effective government policy and the economy. Based on the country's past two elections, however, Standard & Poor's believes Mexico is relatively well-positioned for growth regardless of the election results. In this CreditMatters TV segment, Standard & Poor's Director Mauricio Tello discusses the potential impact that the outcome could have on the country's structured finance markets.	00:08:21
5/11/2012	¿Cuál será el impacto de las elecciones de México en sus mercados de financiamiento estructurado? Las próximas elecciones presidenciales de México -las primeras desde la recesión económica mundial de 2008- están generando preocupaciones entre los participantes del mercado respecto a las expectativas de la economía y una política de gobierno efectiva. No obstante, con base en las dos elecciones anteriores del país, Standard & Poor's considera que México está relativamente bien posicionado para el crecimiento, independientemente de los resultados de las elecciones. En este segmento de CreditMatters TV, Mauricio Tello, Director en Standard & Poor's analiza el impacto potencial que podría tener el resultado de las elecciones en los mercados de financiamiento estructurado del país.	00:07:14
5/11/2012	Avon Products: What Spurred Standard & Poor's Rating Actions Standard & Poor's recently took rating actions on cosmetics company Avon Products Inc. In this CreditMatters TV segment, Associate Director Jacqueline Hui discusses what prompted our rating actions and what could lie ahead for Avon. Topics include operating results, business disruptions in Brazil, the state of the company's business and financial risk profiles, and why the ratings remain on CreditWatch.	00:03:30
5/11/2012	Los planes de expansión de infraestructura de México podría despertar el interés de los inversionistas Los candidatos a la presidencia de México se comprometen a ampliar y mejorar la infraestructura del país. Standard & Poor 's espera que continúe el desarrollo de infraestructura. También consideramos que el desempeño favorable de los proyectos calificados y los próximos cambios a la regulación bancaria del país podría estimular el apetito de los inversionistas, dando lugar a nuevas soluciones en el mercado de deuda para el financiamiento de la infraestructura en los próximos años.	00:04:39
5/11/2012	Mexico's Infrastructure Expansion Plans Could Spark Investor Interest Mexico's presidential candidates pledge to expand and improve the country's infrastructure. Standard & Poor's expects infrastructure development to continue. We also believe the favorable performance of rated projects and upcoming changes in the country's banking regulation could spur investor appetite, giving rise to new debt market solutions for infrastructure financing over the next few years.	00:04:24
5/11/2012	Contexto Atual dos Ratings Soberanos na América Latina Nesta edição de CreditMattters TV, Sebastián Briozzo, Diretor de Ratings Soberanos da Standard & Poor's apresenta o cenário atual dos ratings soberanos na América Latina.	00:04:01
5/10/2012	Economic Update: Less Jobs & More Debt Standard & Poor’s notes that the latest government employment report for April had something for both bulls and bears, despite its overall dismal data. The unemployment rate ticked down, but not for the reasons we would have liked to see. A slightly hopeful labor market report showed that job openings at U.S. workplaces increased in March. Despite the weak jobs numbers, consumer credit surged in March, mostly due to consumers getting more schooling and some even picking up a pair of new wheels.	00:03:28
5/10/2012	The Credit Overhang: Is A $46 Trillion Perfect Storm Brewing? Uncertainty continues to plague the global corporate credit markets due to Europe's sovereign debt crisis, bank regulation, and the potentially hard landing facing China's economy. With more than $43 trillion in nonfinancial corporate financing needs over the next five years, is a perfect storm brewing? In this CreditMatters TV segment, Standard & Poor's Senior Managing Director Jay Dhru takes an in-depth look at the forces that could potentially influence corporate credit quality.	00:05:30
5/10/2012	Standard & Poor's Approach To Rating Australian Covered Bonds There is a strong emergence of interest in covered bonds in the Asia-Pacific region as issuers seek to diversify bank funding and investors look for more liquid and secure asset classes. In this CreditMatters TV segment, Standard & Poor's Managing Director Vera Chaplin explains our approach to rating Australian covered bonds, with particular emphasis on asset-liability mismatch risk assessment.	00:07:47
5/10/2012	European RMBS: Q1 Index Reports Highlight Diverse Rating Drivers Standard & Poor's recently published European RMBS index reports include for the first time scenario analyses that illustrate how collateral performance is no longer the main constraint on our ratings in some countries. In this CreditMatters TV segment, Standard & Poor's Director Andrew Bowyer discusses the trends in European RMBS collateral performance, and the effects of deteriorating counterparty and sovereign creditworthiness on RMBS ratings.	00:06:00
5/10/2012	Standard & Poor's U.S. FFELP Student Loan-Backed Ratings Review Standard & Poor's recently published an article discussing the completion of rating actions in the Federal Family Education Loan Program (FFELP) student loan-backed ABS segment following our actions on the U.S. last year. The article provides market participants with a concise summary of the numerous rating actions we have taken. In this CreditMatters TV segment, Senior Director Frank Trick explains the major takeaways from the review. Topics include the importance of the U.S. sovereign rating to FFELP ABS, key statistics (including the number of bonds affected and rating resolutions), and criteria revisions.	00:08:16
5/9/2012	Why The Outlook Is Mixed For Asia-Pacific Chemical Companies Asia-Pacific's chemical sector is facing a range of risks, including rising input costs and increasing regulation. Tune in as Brenda Wardlaw, a Melbourne-based credit analyst with Standard & Poor's Ratings Services, discusses the implications for the sector's credit quality.	00:05:45
5/9/2012	With China Growth Slowing And Prices Falling, Are The Boom Times Over For Miners In Asia-Pacific? Slowing growth in China and falling prices are placing pressure on the credit quality and profitability of some Asia-Pacific companies operating in the mining and metals industries. Tune in as May Zhong, a Melbourne-based credit analyst with Standard & Poor's Ratings Services, discusses the outlook for the sector.	00:08:50
5/9/2012	Why The U.S. Speculative-Grade Corporate Default Rate Could Rise By March 2013 Standard & Poor's expects the U.S. corporate trailing 12-month speculative-grade default rate to rise to 3.6% by March 2013, from 2.5% as of March 2012. A total of 55 issuers would need to default in the 12 months ending March 2013 to reach this projection. In this CreditMatters TV segment, Diane Vazza, head of global fixed income research, explains what’s behind our baseline, best-case, and worst-case default scenarios. Topics include issuance, maturing corporate debt, long-term risks, and Europe's affect on risk appetite and liquidity.	00:05:56
5/9/2012	Gulf-Based Insurers' Wellbeing Increasingly Driven By Health Insurance Health insurance has become the largest line of business for Gulf-based insurance companies. In this CreditMatters TV segment, Standard & Poor's Associate Anvar Gabidullin explains what is driving the growth, what we see as the challenges for the sector, and what impact this sector has on the credit profiles of insurers.	00:07:04
5/9/2012	Hedge Funds Make Distressed Investing Pay Off Hedge funds have enjoyed a greater share of distressed asset investing as commercial banks have been forced to cut their participation. Moreover, some funds have recently gained attention by successfully investing and trading in the distressed securities of European banks. What other advantages do these funds have over investors, and what strategies do they employ in their investment decisions? In this CreditMatters TV segment, Standard & Poor’s Director Chris Cary provides an in-depth look at how hedge funds operate and invest in distressed assets.	00:03:59
5/9/2012	Acquisitions Highlight Investor Meeting On U.S. Beverage Makers Most of the 13 U.S. beverage companies that Standard & Poor's rates fall into our investment-grade category, Moreover, these companies account for about 30% of the $240 billion in debt held by consumer products companies. In this CreditMatters TV segment, Director Jean Stout discusses the key highlights from a recent investor meeting, including the status of debt-financed acquisitions by Molson Coors Brewing Co. and Constellation Brands Inc.	00:05:17
5/9/2012	Contexto actual de Calificaciones Soberanas en América Latina En esta edición de CreditMatters TV, Roberto Sifon Arevalo, Managing Director de Standard & Poor’s, presenta el escenario actual de Calificaciones Soberanas en América Latina	00:04:52
5/8/2012	¿Cómo afectaron las bajas de calificación de los bancos españoles Santander y Banco Bilbao Vizcaya Argentaria a sus subsidiarias en América Latina? Standard & Poor's recientemente tomó acciones de calificación sobre los bancos españoles Banco Santander y Banco Bilbao Vizcaya Argentaria. ¿Cómo afectaron estas acciones a las subsidiarias latinoamericanas? En este segmento de CreditMatters TV Arturo Sánchez, Director de Instituciones Financieras, analiza el impacto en las operaciones latinoamericanas, principalmente en Brasil, Chile y México, así como lo que podrían esperar.	00:02:25
5/8/2012	How Standard & Poor's Rating Actions On Spain's Banco Santander And Banco Bilbao Vizcaya Argentaria Affected Their Latin American Subsidiaries Standard & Poor's recently took rating actions on Spain's Banco Santander and Banco Bilbao Vizcaya Argentaria. How did our actions affect these banks Latin American subsidiaries? In this CreditMatters TV segment, Arturo Sánchez, Director in the Financial Institutions Group, discusses the impact on Latin American operations, primarily in Brazil, Chile, and Mexico, and what could lie ahead.	00:02:31
5/8/2012	A Big Picture Look At The U.S. For-Profit Health Care Sector The ratings outlook remains stable for most U.S. for-profit health care companies. However, most subsectors will likely experience only modest growth this year. Why? In this CreditMatters TV segment, Standard & Poor's Directors Jesse Juliano and Lucy Patricola discuss the macroeconomic trends shaping the sector and how companies are faring. Topics include our view of key economic indicators, and the effects of share repurchases, acquisitions, patent expirations, sluggish utilization rates, and low Medicare and Medicaid reimbursement rates on companies’ operations.	00:06:09
5/8/2012	Exposure To European Sovereign-Linked Credit Derivatives Won’t Affect The Ratings On North American Insurance Companies Standard & Poor’s recently conducted a survey of 308 North American insurance companies to ascertain their exposure to credit derivatives and other financial instruments relating to troubled European countries, such as Greece, Italy, Ireland, Portugal, and Spain (GIIPS). In this CreditMatters TV segment, Senior Director Bob Roseman discusses our findings, including why exposure to these financial instruments won’t likely affect ratings. Topics include wrong-way risk, credit default swaps, and counterparty exposure.	00:06:53
5/7/2012	Aeroportos brasileiros devem se expandir para atender rápido crescimento de demanda O sólido crescimento econômico do Brasil e o desenvolvimento ao longo da última década elevaram a necessidade de um grande aprimoramento na infraestrutura do país. Nos aeroportos em especial, o número de passageiros atendidos aumentou expressivamente – para quase 180 milhões em 2011 em relação aos pouco mais de 71 milhões em 2003 (ver gráfico 1). Nesta edição de CreditMatters TV, Pablo Lutereau apresenta os desafios que o Brasil enfrenta, segundo a Standard & Poor's para atender o rápido crescimento da demanda.	00:04:14
5/7/2012	Mixed Sales Forecasts Spark Mixed Prospects For Global Automakers Standard & Poor's 2012 outlook for global auto credit quality largely depends on regional sales, which we believe will be sharply different than in 2011. U.S. passenger vehicle sales began the year stronger than we expected, but we believe sales in Europe will likely decline for the fifth consecutive year. In Japan, new vehicle sales during the first three months of the year soared by 47.5% compared with the same period in 2011, and China and Brazil will likely garner slower, but still positive, single-digit growth for 2012. In this CreditMatters TV segment, Managing Director Bob Schulz discusses the findings of our recently published report card on the global auto sector.	00:05:02
5/7/2012	Standard & Poor's Sees The Need For Improvements To Banks' Pillar 3 Disclosures The European Banking Authority recently launched a consultation to identify markets' needs on Pillar 3 disclosures. In this CreditMatters TV segment, Standard & Poor's Bernard de Longevialle, managing director for European Financial Services Ratings, explains our views and the potential areas of improvements to make Pillar 3 disclosures a better tool to assess banks' risk profile.	00:11:44
5/4/2012	Capital Markets Update: U.S. Investment-Grade Issuers Take Advantage Of Favorable Capital Markets Although U.S. economic news continues to be mixed, U.S. companies continue to issue debt––nearly $185 billion in the first quarter. With mostly positive earnings news, stable rating outlooks, and upgrades outpacing downgrades, capital markets are delivering favorable terms to investment-grade issuers. In this edition of Capital Markets Update, Standard & Poor's Senior Director Peter Rigby explains how bond spreads and yields have reacted to economic news over the past 90 days and which sectors are getting the most favorable financing terms.	00:05:03
5/4/2012	Why Downgrades Could Outpace Upgrades In Some U.S. Consumer Products Segments This Year Standard & Poor’s believes downgrades will likely outpace upgrades in some segments of U.S. consumer products this year, particularly personal care, tobacco, apparel, and consumer services. In this CreditMatters TV segment, Standard & Poor’s Senior Director Diane Shand and Director Mark Salierno discuss the trends shaping the segments. Topics include our expectations for pricing, revenue and profit projections, how companies will likely drive growth, emerging markets, and how the trends could impact issuers’ financial policies.	00:06:12
5/4/2012	Why Downgrades Could Outpace Upgrades In Some U.S. Consumer Products Segments This Year (Podcast) Standard & Poor’s believes downgrades will likely outpace upgrades in some segments of U.S. consumer products this year, particularly personal care, tobacco, apparel, and consumer services. In this podcast, Standard & Poor’s Senior Director Diane Shand and Director Mark Salierno discuss the trends shaping the segments. Topics include our expectations for pricing, revenue and profit projections, how companies will likely drive growth, emerging markets, and how the trends could impact issuers’ financial policies.	00:07:34
5/4/2012	U.S. ABS Auto Loan Collateral And Ratings Performance Continues To Improve Net losses, delinquency rates, and recovery rates in the U.S. prime and subprime auto segments significantly improved in February compared to January. Moreover, net losses and delinquencies have declined by about 30%, recovery rates continue to strengthen, and underwriting remains strong in the prime space. What’s pushing the improvements? In this CreditMatters TV segment, Director Srabani Chandra-Lal discusses the factors driving performance. Topics include deal performance, collateral trends, and ratings activity in surveillance and new issuance.	00:05:27
5/4/2012	What Spurred Standard & Poor's Rating Actions On Lam Research Standard & Poor's recently took rating actions on U.S. semiconductor manufacturing equipment provider Lam Research. We also removed the corporate credit rating from CreditWatch. In this CreditMatters TV segment, Associate Director David Tsui explains what triggered the rating actions and what could lie ahead for the company. Topics include the implications of Lam's pending merger with Novellus Systems Inc., pro forma leverage, and what could prompt another rating action.	00:02:36
5/4/2012	High Commodity Prices And Infrastructure Spending Are Fueling Growth In Sub-Saharan African Sovereigns Standard & Poor's rates 16 sovereigns in sub-Saharan Africa. In this CreditMatters TV segment, Senior Director Christian Esters explains our fiscal and economic outlook on those sovereigns and what could lie ahead.	00:04:17

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