Ratings agency Standard & Poor's has already downgraded almost as many companies through the first eight months of this year (361) as it did for all of 2007 (382), and now it has named the five sectors with the highest risks for further drops.
Financials: This one isn't really a big surprise amid the massive write-downs in the sector and their most direct exposure to the credit market. 'Continued stress in the housing market and concerns over liquidity and the need for more capital have kept the outlook for the financial sector - and brokers in particular - fairly negative,' said S&P.
Transportation: Higher energy costs and slowing consumer spending are taking a major toll on the transportation industry, particularly airlines and trucking firms which are having difficulties raising prices to offset higher fuel costs. 'Of the major transportation subsectors, railroads have faired the best, mostly because of a lower sensitivity to fuel prices and decent pricing power, even as demand has softened,' S&P said.
Automotive: The industry was already struggling before oil prices broke through $100 a barrel, and the current environment has only made things worse. 'Although automakers have garnered big headlines, suppliers have not been immune. Indeed, negative bias is running at 55% among auto suppliers, as fundamentals for the industry remain negative,' S&P said.
Forest Products and Building Materials: The housing downturn is weighing on building-materials companies, as expected. But the bursting bubble is exacerbating problems for forest-products firms, which were dealing with slowing demand for paper in an increasingly digital world. 'The paper industry in general has faced rising costs,' S&P said.
Media and Entertainment: The slowing economy has damped consumer spending, as ad dollars dry up and move to the Internet. 'Analysts project (advertising spending this year) to grow modestly at only 3.3%, despite the summer Olympics and presidential election. Total ad spending is projected to be flat to lower (negative 0.1%) in 2009,' S&P said.
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今年前八个月，评级机构标准普尔公司(Standard & Poor's)下调了361家公司的评级，数量几乎赶上07年全年的382家了。现在标准普尔又列出了进一步下滑风险最高的五大行业。
金融业：该行业位列第一实在不出人意料，因为冲减狂潮目前正席卷整个行业，而且它在信贷危机中可谓首当其冲。标准普尔指出，住房市场持续吃紧&#12289;人们对流动性挥之不去的担忧以及更多的融资需求依然令金融业（特别是经纪业）的前景很不乐观。
交通运输业：能源价格走高以及消费支出放缓正给交通运输业造成沉重损失，尤其是航空以及卡车货运企业，因为它们很难通过提价来抵消燃油成本上涨的压力。标准普尔表示，在交通业主要的细分领域中，铁路运输企业算是过得最轻松的，这主要是因为它们对燃料价格敏感度较低，而且虽然需求在下滑，铁路企业仍握有相当大的定价权。
汽车行业：早在油价破百之前汽车企业就已是苦苦挣扎了，而眼下这种情况只能是雪上加霜。标准普尔指出，虽然媒体整天在头版头条报导汽车企业的困顿，但这并没有将它们锻造得百毒不侵。事实上，由于整个行业的基本面因素仍不容乐观，有55%的汽车供应商都经历了评级下调。
林产品及建筑材料：正如人们此前预料的那样，住房市场的低迷正令建材企业承压。但房市泡沫破裂加剧了林产品企业所面临的困境──此前，随着数字化时代的到来，纸张需求不断下滑已经令它们疲于应对。标准普尔指出，总体来说，造纸行业将面临成本的上升。
媒体及娱乐业：经济放缓拖累了消费支出，同时广告预算出现缩水，且网络成为广告业新宠。标准普尔表示，分析师预计，虽然有夏季奥运会和总统大选的推动，但今年的广告开支只会有3.3%的小幅增长；而明年广告总支出可能将维持于当前水平，或略微下滑（减少0.1%）。
