Standard & Poors 2009 astonishing bad results in bankruptcy prediction

From Standard & Poors web-site, table 8 and 9 : http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245207201119 the evidence is given that despite a qualified rating one out of five predictions resulted into a bankruptcy.

In the last twenty years from all S&P's qualified ratings AAA until B, 19,87% turned into a bankruptcy. 

In fact they all should have been rated with a class D (Default) of perhaps a single C, the lowest of the speculative grades. 

  

Who believes that - after the subprime crises - any self-reflection about their credit-ratings would have led to improved results in 2009, will be disappointed.  

Standard & Poors shows in the 2009 tables approx. 37% failures, more than ONE OUT OF THREE companies that failed after having rated with a Standard & Poors rating within the "non-failing" classes AAA-B. 

In public we offer now the comparison to the OK-Score track-record.