Ratings

In this special report, Standard & Poor’s takes another in-depth look at emerging markets beyond the so-called BRIC countries (Brazil, Russia, India, and China). Sustained growth in other transition economies is again the focus of Standard & Poor’s analysts, who explore some key trends in debt and equity financing outside the BRIC nations. The landscape has changed quite a bit since we last viewed it.

Chief Economist David Wyss discusses how growth in emerging markets reduces the global impact of the U.S. recession. The world's economic train has more engines pulling it than in the past, he says. S&P examines these growth “engines that could” for signs of optimism, and find that macroeconomic data are mixed and that many particular credit stories are nuanced. A five-year run of emerging market sovereign upgrades exceeding downgrades may be nearing an end notes John B. Chambers, chairman of the Sovereign Ratings Committee, but he maintains that the spillover effects to frontier markets from credit conditions in industrial countries will be contained. Alka Banerjee, of Standard & Poor's Index Analysis and Management Group, also points out how the appeal of high returns continues to lead more equity investors into the smaller and less liquid frontier markets, where each country presents its own distinct challenges including risk, transparency, governance, and volatility.

Webcasts

Will Frontier Markets Flourish While Industrial Countries Falter? While record-high oil prices and a U.S. recession are causing a slowdown in most industrial countries and in the global economy, record-high commodity prices and the shifts in world growth patterns are likely to keep most emerging markets on the rise. A panel discussion, moderated by Paul Kilby of International Financing Review, takes a closer look at emerging markets with credit analysts from Standard & Poor’s Ratings Service and Chief Economist David Wyss as they discuss emerging markets and the global economy. Watch The Allure of Frontier Markets Watch a webcast by Standard & Poor's Alka Banerjee as she discusses her views on the frontier markets. With the steep rise in stock prices in emerging markets, investors began searching for the next alpha, and frontier markets seemed to be the logical place to explore. Once risky, exotic investments, now they are must-have portfolio allocations. Watch

Podcasts

How Tight Liquidity Is Squeezing Kazakhstan Banks The global credit crunch has hit Kazakhstan’s banks hard, leaving them vulnerable. Standard & Poor’s Associate Director Ekaterina Trofimova discusses, among other things, the factors that led to the difficulties for the sector and its outlook. Listen Sub-Saharan Africa: Obstacles Remain On The Road To Growth Join Standard & Poor's Director Farouk Soussa for an in-depth discussion on the region's investment opportunities and the obstacles it must overcome to grow. Topics include infrastructure development, governance issues, and foreign direct investment. Listen Can Sub-Saharan Africa Stay On Pace As World Economies Cool? Standard & Poor’s credit analyst Konrad Reuss examines how the economic slowdown in the U.S. and the European Union is affecting the Sub-Saharan countries. Topics include what the region has to do to continue progressing economically, the impact of the electricity crisis on South Africa, transparency issues, and more. Listen Asia’s Corporate Sector Braces For A Rough Ride Faced with the global liquidity crunch, slumping equity markets, rising oil prices, a weakening U.S. economy, and inflation, how will Asian corporates cope? Tune in as Standard & Poor's Senior Director Anshukant Taneja provides insightful analysis on the issue and more. Listen

Research

Report Card: Mixed Outlook For African Sovereign Ratings Amid Commodity Boom Can Sub-Saharan Africa Keep Up The Pace As Global Growth Slows Down? How Will Kazakhstan Finance Its Big Plans For Hydrocarbon Investment? Will Central Asia's Commodity Boom Help Pave The Way For A New Silk Road? Growing Emerging Markets Reduce The Global Impact Of The U.S. Recession Emerging Market Sovereign Credit: Shifting Winds, Ebbing Current Why The Global Credit Squeeze Could Hit European Emerging Market Sovereigns Harder Than Others Russian Firms Find Solutions To Tackle Tight Liquidity Credit FAQ: Double-Digit Overheating Raises Concerns For Ukraine's Economy Political Independence Is Only Step One For Kosovo Equity Viewpoint: The Allure Of High Returns Continues To Lead More Investors Into Frontier Markets Resource Boom Drives Progress In The Caucasus, But Can The Gains Be Maintained? Industry Credit Outlook: Asia's Corporate Sectors Will Roll With The Punches In 2008 Latin American Securitization Remains Stable In The Face Of Global Market Turbulence Credit FAQ: Developing A Global Ratings Framework For Microfinance Institutions