Global Corporate And Sovereign Rating Actions And Outlook: European Credit Quality Improves, Though Downgrade Pressure Remains Elevated In The Emerging Markets

We downgraded 148 issuers and upgraded 161 in second-quarter 2014, the second time in the past 12 quarters that upgrades outpaced downgrades. A significant portion of the upgrades during the quarter were on European issuers, which saw 49 upgrades compared with just 17 downgrades, reflecting the recovering economic climate in the region following the eurozone crisis. More

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