The number of global corporate debit issuers poised for downgrades fell to 869 in November from 890 a month earlier, according to Standard & Poor's.
The banking sector still had the highest number of companies with downgrade propensity, S&P said, followed by the media and entertainment industry and insurers. Sectors including chemicals, packaging and utilities have shown signs of stabilizing following a large number of downgrades.
Potential downgrades are considered companies with either a negative ratings outlook or being under review for a potential downgrade. Nearly half of the potential downgrades are junk-rated companies.