Outlook appears less positive with more issuers on review for downgrades
Regulators encouraged that many agencies have adopted policies consistent with the IOSCO code
Corporate leverage expected to increase of the next 12 months
Credit rating agency would be required to apply for registration
Number of issuers with negative outlooks rises
Still room for improvement, report says
Yet, industrial issues in North America and Europe have continued to see more downgrades than upgrades in 2006
Changes in financial and business profiles the largest single cause behind rating changes
Strong improvement in several sectors
New research looks at the relationship between loan amendment activity and the general direction of credit quality