S&P’s Watchlist
S&P’s List of Companies Vulnerable to Default
Data as of Oct. 15, 2008
| Rating Combination And Subsector | Issuer | Debt (US$ Mil) | Country |
|---|---|---|---|
| B-/CreditWatch Negative | |||
| Automotive | Ford Motor Co. | 116,914 | U.S. |
| Automotive | General Motors Corp. | 81,178 | U.S. |
| CP&ES | Pliant Corp. | 543 | U.S. |
| Consumer products | Cott Corp. | 275 | Canada |
| Consumer products | MEGA Brands Inc. | 267 | Canada |
| Forest | AMH Holdings Inc. | 611 | U.S. |
| Forest | WII Components Inc. | 120 | U.S. |
| Health care | Chem Rx Corp. | 117 | U.S. |
| Media and entertainment | Advanstar Inc. | 775 | U.S. |
| Media and entertainment | Endurance Business Media Inc. | 160 | U.S. |
| Media and entertainment | Fontainebleau Las Vegas Holdings LLC | 1,725 | U.S. |
| Media and entertainment | Jobson Medical Information LLC | 132 | U.S. |
| Media and entertainment | NextMedia Operating Inc. | 340 | U.S. |
| Media and entertainment | Panavision Inc. | 430 | U.S. |
| Oil and gas EP | Agri International Resources Pte. Ltd. | 150 | Singapore |
| Oil and gas EP | Frontier Drilling A.S.A | 265 | Norway |
| Oil and gas EP | VeraSun Energy Corp. | 660 | U.S. |
| Transportation | JetBlue Airways Corp. | 425 | U.S. |
| Transportation | US Airways Group Inc. | 1,744 | U.S. |
| Rating Combination And Subsector | Issuer | Debt (US$ Mil) | Country |
|---|---|---|---|
| B-/Outlook Negative | |||
| Automotive | Accuride Corp. | 825 | U.S. |
| Automotive | Hilite International Inc. | 164 | U.S. |
| Automotive | Keystone Automotive Operations Inc. | 375 | U.S. |
| Automotive | Mark IV Industries Inc. | 988 | U.S. |
| Automotive | TI Automotive Ltd. | 657 | U.K. |
| Bank | CentroCredit Bank JSC | 0 | Russia |
| Bank | Nadra Bank | 0 | Ukraine |
| Brokerage Investment Company | Veles Capital LLC | 0 | Russia |
| Capital goods | Baxi Holdings Ltd. | 173 | U.K. |
| CP&ES | Arclin Canada Ltd. | 460 | Canada |
| CP&ES | Exopack Holding Corp. | 220 | U.S. |
| CP&ES | Synagro Technologies Inc. | 440 | U.S. |
| CP&ES | United Site Services Inc. | 265 | U.S. |
| Consumer products | Broder Bros. Co. | 225 | U.S. |
| Consumer products | Dole Food Co. Inc. | 2,080 | U.S. |
| Consumer products | Fage Dairy Industry S.A. | 177 | Greece |
| Consumer products | IT Holding SpA | 252 | Italy |
| Consumer products | JFC Group Co. Ltd. (CJSC) | 0 | Russia |
| Consumer products | Rafaella Apparel Group Inc. | 172 | U.S. |
| Consumer products | Targus Group International Inc. | 273 | U.S. |
| Consumer products | Wilton Products Inc. | 700 | U.S. |
| Consumer products | WP Evenflo Holdings Inc. | 165 | U.S. |
| Finance companies | DriveTime Automotive Group, Inc. | 270 | U.S. |
| Forest | AbitibiBowater Inc. | 6,488 | Canada |
| Forest | Advance Agro Public Co. Ltd. | 250 | Thailand |
| Forest | Builders FirstSource Inc. | 275 | U.S. |
| Forest | Caraustar Industries Inc. | 229 | U.S. |
| Forest | Grant Forest Products Inc. | 0 | Canada |
| Forest | Industrias Unidas S.A. de C.V. | 0 | Mexico |
| Forest | Jacuzzi Brands Corp. | 320 | U.S. |
| Forest | Mandra Forestry Finance Ltd. | 195 | British Virgin Islands |
| Forest | M-real Corp. | 1,619 | Finland |
| Forest | NTK Holdings Inc. | 1,776 | U.S. |
| Forest | United Subcontractors Inc. | 360 | U.S. |
| Health care | CCS Medical | 424 | U.S. |
| Health care | Cohr Holdings Inc. | 140 | U.S. |
| Health care | InSight Health Services Corp. | 315 | U.S. |
| Health care | Spheris Inc. | 125 | U.S. |
| Health care | TLC Vision Corp. | 85 | U.S. |
| High technology | Consona ERP Inc. | 185 | U.S. |
| High technology | NXP B.V. | 11,771 | Netherlands |
| High technology | Palm Inc. | 400 | U.S. |
| Home/RE | Hovnanian Enterprises Inc. | 2,655 | U.S. |
| Home/RE | Neo-China Land Group (Holdings) Ltd. | 400 | China |
| Home/RE | Standard Pacific Corp. | 1,154 | U.S. |
| Home/RE | William Lyon Homes | 550 | U.S. |
| Insurance | Arrowhead General Insurance Agency Inc. | 170 | U.S. |
| Insurance | USI Holdings Corp. | 950 | U.S. |
| Rating Combination And Subsector | Issuer | Debt (US$ Mil) | Country |
|---|---|---|---|
| B-/Outlook Negative (continued) | |||
| Media and entertainment | Downstream Development Authority | 197 | U.S. |
| Media and entertainment | Education Media & Publishing Group Ltd. | 6,650 | Ireland |
| Media and entertainment | Gateway Casinos & Entertainment Inc. | 947 | Canada |
| Media and entertainment | Gray Television Inc. | 925 | U.S. |
| Media and entertainment | Little Traverse Bay Bands of Odawa Indians | 120 | U.S. |
| Media and entertainment | Motorsport Aftermarket Group Inc. | 160 | U.S. |
| Media and entertainment | MTR Gaming Group Inc. | 255 | U.S. |
| Media and entertainment | Realogy Corp. | 6,295 | U.S. |
| Media and entertainment | Spanish Broadcasting System Inc. | 400 | U.S. |
| Media and entertainment | Station Casinos Inc. | 2,550 | U.S. |
| Media and entertainment | Tribune Co. | 13,577 | U.S. |
| Media and entertainment | Trump Entertainment Resorts Holdings L.P. | 1,250 | U.S. |
| Media and entertainment | Univision Communications Inc. | 10,200 | U.S. |
| Media and entertainment | Workflow Management Inc. | 415 | U.S. |
| Metals, mining, and steel | Bemax Resources Ltd. | 175 | Australia |
| Metals, mining, and steel | G Steel Public Co. Ltd. | 170 | Thailand |
| Metals, mining, and steel | USEC Inc. | 650 | U.S. |
| Oil and gas EP | Dune Energy Inc. | 300 | U.S. |
| Retail/restaurants | A.T.U Auto-Teile-Unger | 204 | Germany |
| Retail/restaurants | BCBG Max Azria Group, Inc. | 200 | U.S. |
| Retail/restaurants | BI-LO LLC | 0 | U.S. |
| Retail/restaurants | Claire’s Stores Inc. | 2,385 | U.S. |
| Retail/restaurants | Eddie Bauer Holdings Inc. | 225 | U.S. |
| Retail/restaurants | El Pollo Loco Inc. | 225 | U.S. |
| Retail/restaurants | Guitar Center Holdings Inc. | 1,427 | U.S. |
| Retail/restaurants | Krispy Kreme Doughnuts Inc. | 110 | U.S. |
| Retail/restaurants | MAPCO Express Inc. | 296 | U.S. |
| Retail/restaurants | Mastro’s Restaurants LLC | 100 | U.S. |
| Retail/restaurants | Mothers Work Inc. | 90 | U.S. |
| Retail/restaurants | Perkins & Marie Callender’s Inc. | 322 | U.S. |
| Retail/restaurants | Sagittarius Restaurants LLC | 295 | U.S. |
| Savings and loans | Downey Financial Corp. | 200 | U.S. |
| Telecommunications | Bite Finance International B.V. | 408 | Lithuania |
| Telecommunications | Charter Communications Inc. | 22,408 | U.S. |
| Telecommunications | Securus Technologies Inc. | 194 | U.S. |
| Telecommunications | U.S. TelePacific Holdings Corp. | 199 | U.S. |
| Transportation | AMR Corp. | 4,071 | U.S. |
| Transportation | Swift Corp. | 4,275 | U.S. |
| Transportation | Titan Petrochemicals Group Ltd. | 400 | Hong Kong |
| Transportation | Trailer Bridge Inc. | 85 | U.S. |
| Transportation | UAL Corp. | 3,390 | U.S. |
| Rating Combination And Subsector | Issuer | Debt (US$ Mil) | Country |
|---|---|---|---|
| CCC+/CreditWatch Negative | |||
| Capital goods | Electrical Components International Inc. | 305 | U.S. |
| CP&ES | Polymer Holdings LLC | 585 | U.S. |
| Forest | Building Materials Holding Corp. | 350 | U.S. |
| Forest | Chesapeake Corp. | 335 | U.S. |
| Media and entertainment | Barrington Broadcasting LLC | 398 | U.S. |
| Media and entertainment | Cambium Learning Inc. | 128 | U.S. |
| Rating Combination And Subsector | Issuer | Debt (US$ Mil) | Country |
|---|---|---|---|
| CCC+/Outlook Negative | |||
| Automotive | Chrysler LLC (Chrysler Holding LLC) | 9,000 | U.S. |
| Automotive | Lazy Days’ R.V. Center Inc. | 125 | U.S. |
| Automotive | Metaldyne Corp. | 860 | U.S. |
| Capital goods | Euramax International Inc. | 667 | U.S. |
| CP&ES | Constar International Inc. | 395 | U.S. |
| CP&ES | Foamex L.P. | 600 | U.S. |
| CP&ES | Georgia Gulf Corp. | 1,600 | U.S. |
| CP&ES | Millennium Inorganic Chemicals | 0 | U.S. |
| Consumer products | KIK Custom Products Inc. | 645 | Canada |
| Finance companies | Checksmart Financial Co. | 195 | U.S. |
| Finance companies | DaimlerChrysler Financial Services Americas LLC | 6,000 | U.S. |
| Forest | Treofan Holdings GmbH | 231 | Germany |
| Forest | White Birch Paper Co. | 550 | U.S. |
| Health care | LifeCare Holdings Inc. | 402 | U.S. |
| Home/RE | Stanley-Martin Communities LLC | 133 | U.S. |
| Media and entertainment | Affinity Group Holding Inc. | 436 | U.S. |
| Media and entertainment | Alpha Media Group Inc. | 160 | U.S. |
| Media and entertainment | American Media Operations Inc. | 1,005 | U.S. |
| Media and entertainment | CommerceConnect Media Holdings Inc. | 0 | U.S. |
| Media and entertainment | Freedom Communications Inc. | 650 | U.S. |
| Media and entertainment | GateHouse Media Operating Inc. | 1,195 | U.S. |
| Media and entertainment | Head N.V. | 152 | Netherlands |
| Media and entertainment | ION Media Networks Inc. | 867 | U.S. |
| Media and entertainment | Morris Publishing Group LLC (Morris Communications | 475 | U.S. |
| Media and entertainment | Muzak Holdings LLC | 375 | U.S. |
| Media and entertainment | Six Flags Inc. | 3,140 | U.S. |
| Media and entertainment | Triple Crown Media LLC (Triple Crown Media Inc.) | 120 | U.S. |
| Metals, mining, and steel | Indalex Holding Corp. | 270 | U.S. |
| Retail/restaurants | Loehmann’s Holdings Inc. | 110 | U.S. |
| Retail/restaurants | Oriental Trading Co. Inc. | 590 | U.S. |
| Retail/restaurants | Sbarro Inc. | 333 | U.S. |
| Sovereign | Islamic Republic of Pakistan | 5,952 | Pakistan |
| Telecommunications | Hawaiian Telcom Communications Inc. | 985 | U.S. |
| Utility | Cheniere Energy Inc. | 2,177 | U.S. |
| Rating Combination And Subsector | Issuer | Debt (US$ Mil) | Country |
|---|---|---|---|
| CCC/CreditWatch Negative | |||
| Media and entertainment | Alliance Film Holdings Inc | 351 | Canada |
| Media and entertainment | Mount Airy #1 LLC | 455 | U.S. |
| CCC/Outlook Negative | |||
| CP&ES | Tegrant Corp. | 290 | U.S. |
| Consumer products | Airborne Health Inc. | 160 | U.S. |
| Consumer products | Best Brands Corp. | 245 | U.S. |
| Consumer products | Human Touch LLC. | 100 | U.S. |
| Consumer products | Merisant Worldwide Inc. | 546 | U.S. |
| Consumer products | True Temper Sports Inc. | 235 | U.S. |
| Consumer products | Waterford Wedgwood PLC | 226 | Ireland |
| Finance companies | Geneva Finance Ltd. | 0 | New Zealand |
| Health care | InterDent Inc. | 80 | U.S. |
| Health care | Rotech Healthcare Inc. | 287 | U.S. |
| Home/RE | Rhodes Co.’s LLC (The) | 393 | U.S. |
| Media and entertainment | Black Gaming LLC | 573 | U.S. |
| Media and entertainment | MediaNews Group Inc. | 1,047 | U.S. |
| Media and entertainment | Progressive Gaming International Corp. | 0 | U.S. |
| Media and entertainment | Young Broadcasting Inc. | 990 | U.S. |
| Oil and gas EP | Petrol AD | 136 | Bulgaria |
| Retail/restaurants | Finlay Enterprises Inc. | 200 | U.S. |
| Retail/restaurants | Uno Restaurant Holdings Corp. | 142 | U.S. |
| Transportation | Atlantic Express Transportation Corp. | 185 | U.S. |
| Utility | November 2005 Land Investors, LLC | 232 | U.S. |
| CCC-/Outlook Negative | |||
| Financial institutions | Transtel Intermedia, S.A. | 170 | Colombia |
| High technology | ASAT Holdings Ltd. | 150 | Hong Kong |
| Home/RE | Fleetwood Enterprises Inc. | 100 | U.S. |
| Insurance | Conseco Senior Health Insurance Co. (Conseco Inc.) | 0 | U.S. |
| Rating Combination And Subsector | Issuer | Debt (US$ Mil) | Country |
|---|---|---|---|
| CC/CreditWatch Negative | |||
| Forest | Masonite International Inc. | 1,175 | Canada |
| Health care | Angiotech Pharmaceuticals Inc. | 575 | Canada |
| Insurance | Penn Treaty Network America Insurance Co. | 0 | U.S. |
| CC/Outlook Negative | |||
| Consumer products | EuroFresh Inc. | 214 | U.S. |
| Telecommunications | P.T. Mobile-8 Telecom Tbk | 100 | Indonesia |
Source: www.businessweek.com
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