Moodys穆迪 全球信贷研究周报 2010-11.pdfVIP

15 NOVEMBER 2010 NEWS ANALYSIS Sovereigns 24 » Debt commission chairs’ proposals would improve US debt, but Corporates 2 adoption unlikely page 24. » Focusing on shale gas, Chevron offer for Atlas Energy is positive for » European sovereign crisis mechanism – finance ministers reassure Atlas, neutral for Chevron page 2. markets but concerns remain page 25. » HCA hospital chain delivers another payday for private equity owners, a credit negative page 3. » New warning labels unlikely to slash cigarette sales, good for tobacco CREDIT IN DEPTH page 4. Putting US Mortgage Foreclosure Issues in Perspective 27 » Sara Lee sheds US fresh bakery business to Grupo Bimbo, a credit Taking a close look at robo-signing, missing and defective loan positive page 5. documents, challenges to MERS, and REMIC-eligibility, we find that »Vodafone’s plan to release value from minority holdings is credit these issues pose mostly a low risk to US RMBS. positive page 5. »Japanese telco Softbank’s buyback of Vodafone stake is credit positive page 7. »Japan eyes free trade pact to bolster exporters’ competitiveness, a RATING CHANGES credit positive page 8. Last week we upgraded HeidelbergCement, Solutia, Clarian Health » Number portability to further erode China Mobile’s dominance page 9. Partners, Rush University Medical Center, Tri-State GT Association, »Asian companies’ cash