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Our two publications Smith's Research & Gradings and
The Global Economic Doctor will provide you a wealth of information so you can make informed decisions about your investment choices.

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Smith's Research & Gradings

Smith's Research & Gradings focuses on the people, sectors and news that matter the most to you. Smith's analysis is an indispensable part of Wall Street and the world's capital markets. Our approach was inspired by the need for a consistent analytical approach across all asset classes. Smith's Gradings are a time-tested, performance proven, and principles-based approach to risk. We go beyond the numbers to connect the dots for the world's decision makers. We can enhance the performance of investments in assets around the globe, while helping to ensure the safety of portfolios here at home.

Here are a few topics featured in this publication:

Yankee Stadium Bonds Baa1/NR/BBB+

Fitch Ratings assigned a 'BBB+' rating to the New York City Industrial Development Agency's (NYC IDA) $923 million PILOT Revenue Refunding Bonds,Series 2020, Yankee Stadium Project. Fitch has also affirmed the 'BBB+' rating on the Series 2006 and 2009 bonds, as well as the NYCIDA's Series 2006 and 2009 Rental Revenue Bonds, issued on behalf of Yankee Stadium LLC (StadCo). The Rating Outlook is Stable. The transaction will refund $863 million Series 2006 and 2009 bonds, generating more than $200 million in present value savings.

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Silver Line and Purple Line Problems Underscore Challenges to Economic Development Plans

Economic development related to transportation in and around Washington, D.C. underscores the tremendous limitations and challenges facing the area.

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S&P Places 98 Airports on CreditWatch Negative

S&P Global Ratings placed 98 ratings on most U.S. airports and airport-related obligations on CreditWatch with negative implications, affecting 63 different obligors. This week, SRG had a chance to talk with Kurt E. Forsgren, S&P Global transportation sector leader and senior credit analyst on Airports.

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The Global Economic Doctor

Let a subscription to The Global Economic Doctor provide you with access to sovereign news, analysis and insights. Concise and powerful, the Global Economic Doctor spans the globe, giving you a read on how today’s market developments and key players are impacting your business around the planet.

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I thought you said it was going to be sunny?

The rollercoaster ride that is the U.S. economy is likely to continue through into the first half of 2021.

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Beirut’s Agony: Ports, Food, and China

On August 4th the port of Beirut was the scene of a horrific explosion, which killed more than 150 people, injured 6,000 and left some 300,000 homeless. The damages are estimated to be in excess of $15 billion. The city’s hospitals, already struggling due to the COVID-19 pandemic, were damaged by the blast and swamped with injured. On top of already raging economic and political crises, the explosion now raises the question of food security. Prior to the explosion, 80 percent of Lebanon’s imports passed through Beirut’s port. Without a functioning port in Beirut, the country now relies on a handful of secondary ports, chief among them being Tripoli in the north, to import food and to export its products.

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Sovereign Ratings Watch: Japan – Under Pressure

A COVID-19 pandemic, rising business bankruptcies, pressure on government finances, a global economic meltdown and an increasingly tenser relationship with China – what else could go wrong for Japan? Apparently, there is one more thing: Fitch has changed its outlook for Japan’s “A” sovereign rating from stable to negative. Moody’s rates Japan “A1” (stable) and S&P gives Japan a sovereign rating at “A+” (stable). We think it is possible to see Moody’s and S&P follow with negative outlooks later in the year. Smith’s shares many of the same concerns with Fitch about Japan’s credit picture and has a negative outlook. Moreover, Japan’s deteriorating creditworthiness is significant in that the Asia-Pacific country is the world’s third largest economy, a leading exporter and staunch U.S. ally. The deeper Japan sinks, the messier Asia’s geopolitical landscape becomes.

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