Research & ratings

Fitch Solutions says that developed market sovereigns in the Eurozone have driven the rebound in global CDS liquidity after the seasonal lull. Leading the surge are France, Spain and Austria, which have moved up 14, 10 and 10 regional percentile rankings respectively over the past month.

Fitch Solutions, a division of the Fitch Group, has launched its new Bank Credit Model - a product providing daily Financial Implied Ratings and Implied CDS spreads for 9,500 global banks to help risk managers improve their credit and counterparty risk surveillance, and to meet regulatory and internal compliance requirements.

Fitch Solutions, a division of the Fitch Group, says that in the month to 19 August, increased CDS market uncertainty on the prospects for sovereigns has pushed average global CDS liquidity to its highest level since Fitch Solutions' liquidity scores time series began in March 2006.

CMA today released its Sovereign Debt Credit Risk Report (attached) for the fourth quarter 2010, in which it names the top ten most and least risky sovereigns, and the best and worst performers.

This quarter there were few surprises in the list of the top ten most risky sovereigns, with Greece at the top of the table, followed by Venezuela, Ireland and Portugal, and there were no changes to the top eight least risky, although The Netherlands dropped out of the top ten.

Kamakura Troubled Company Index Down 0.56% to 5.10%

Daily “Probability of Default” calculations are now available on nearly 7,000 public companies in Europe, the Middle East and Africa

Standard & Poor’s Valuation & Risk Strategies has increased the number of public companies included in its daily Probability of Default (PD) calculations, to 6,978 in EMEA and 31,036 companies worldwide.