Upside limited for fallen angel companies - S&P

Newswire

By Dena Aubin NEW YORK, Feb 27 (Reuters) - Companies that lost investment-grade ratings over the past 16 years had just a one-in-four chance of gaining them back, Standard & Poor's said on Thursday, raising new worries over a host of companies rated just one notch from junk. Of 383 companies slashed to junk worldwide since 1987, just 87 have been upgraded back to investment-grade, S&P said in a report. Companies that lose investment-grade ratings, known as "fallen angels," can ...

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