S&P Global Ratings - Wikipedia

S&P Global Ratings is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, ... S&PGlobalRatings FromWikipedia,thefreeencyclopedia Jumptonavigation Jumptosearch Americancreditratingagency "S&P"redirectshere.Forforthebroadcastingentity,seeBroadcastStandardsandPractices. S&PGlobalRatingsTypeSubsidiaryIndustryFinancialservicesPredecessorPoor'sPublishingStandardStatisticsFounded1860;162 yearsago (1860)1941;81 yearsago (1941)(presentcorporationstatus)FounderHenryVarnumPoorHeadquartersNewYorkCity,NewYork,U.S.KeypeopleJohnBerisfordRevenueUS$2.61 billion(2009)[1]Numberofemployees10,000+ParentS&PGlobalWebsitewww.spglobal.com/ratings/ S&PGlobalRatings(previouslyStandard&Poor'sandinformallyknownasS&P)isanAmericancreditratingagency(CRA)andadivisionofS&PGlobalthatpublishesfinancialresearchandanalysisonstocks,bonds,andcommodities.S&PisconsideredthelargestoftheBigThreecredit-ratingagencies,whichalsoincludeMoody'sInvestorsServiceandFitchRatings.[2]Itsheadofficeislocatedon55WaterStreetinLowerManhattan,NewYorkCity.[3] Contents 1History 2Creditratings 2.1OverallLong-termcreditratings 2.2Short-termissuecreditratings 3Governancescores 3.1CGSscores 3.2GAMMAscores 3.3ManagementandGovernancecriteria 4DowngradesofCountries 4.1DowngradeofU.S.long-termcreditrating 4.2DowngradeofFrance'slong-termcreditrating 5Publications 6Criticismandscandal 6.1Roleinthe2007–08financialcrisis 6.2Criticismofsovereigndebtratings 6.3AustralianFederalCourtdecision 7Antitrustreview 8Seealso 9References 10Externallinks History[edit] "Poor'sDirectoryofRailroadOfficials",1893(frontispiece)Thecompanytracesitshistorybackto1860,withthepublicationbyHenryVarnumPoorofHistoryofRailroadsandCanalsintheUnitedStates.ThisbookcompiledcomprehensiveinformationaboutthefinancialandoperationalstateofU.S.railroadcompanies.In1868,HenryVarnumPoorestablishedH.V.andH.W.PoorCo.withhisson,HenryWilliamPoor,andpublishedtwoannuallyupdatedhardbackguidebooks,Poor'sManualoftheRailroadsoftheUnitedStatesandPoor'sDirectoryofRailwayOfficials.[4][5] In1906,LutherLeeBlakefoundedtheStandardStatisticsBureau,withtheviewtoprovidingfinancialinformationonnon-railroadcompanies.Insteadofanannuallypublishedbook,StandardStatisticswoulduse5-by-7-inchcards,allowingformorefrequentupdates.[4] In1941,PaulTalbotBabsonpurchasedPoor'sPublishingandmergeditwithStandardStatisticstobecomeStandard&Poor'sCorp.In1966,thecompanywasacquiredbyTheMcGraw-HillCompanies,extendingMcGraw-Hillintothefieldoffinancialinformationservices.[4] Creditratings[edit] Asacreditratingagency(CRA),thecompanyissuescreditratingsforthedebtofpublicandprivatecompanies,andotherpublicborrowerssuchasgovernmentsandgovernmentalentities.ItisoneofseveralCRAsthathavebeendesignatedanationallyrecognizedstatisticalratingorganizationbytheU.S.SecuritiesandExchangeCommission. OverallLong-termcreditratings[edit] CountriesbyStandard&Poor'slong-termforeignrating.Legend:AAAAA+AAAA-A+AA-BBB+BBBBBB-BB+BBBB-B+BB-CCC+CCCCCC-SD/D ThecompanyratesborrowersonascalefromAAAtoD.IntermediateratingsareofferedateachlevelbetweenAAandCCC(suchasBBB+,BBB,andBBB−).Forsomeborrowers,thecompanymayalsoofferguidance(termeda"creditwatch")astowhetheritislikelytobeupgraded(positive),downgraded(negative)oruncertain(neutral). InvestmentGrade AAA:Anobligorrated'AAA'hasextremelystrongcapacitytomeetitsfinancialcommitments.'AAA'isthehighestissuercreditratingassignedbyStandard&Poor's. AA:Anobligorrated'AA'hasverystrongcapacitytomeetitsfinancialcommitments.Itdiffersfromthehighest-ratedobligorsonlytoasmalldegree.Includes: AA+:equivalenttoMoody'sAa1(highquality,withverylowcreditrisk,butsusceptibilitytolong-termrisksappearssomewhatgreater) AA:equivalenttoAa2 AA−:equivalenttoAa3 A:Anobligorrated'A'hasstrongcapacitytomeetitsfinancialcommitmentsbutissomewhatmoresusceptibletotheadverseeffectsofchangesincircumstancesandeconomicconditionsthanobligorsinhigher-ratedcategories. A+:equivalenttoA1 A:equivalenttoA2 BBB:Anobligorrated'BBB'hasadequatecapacitytomeetitsfinancialcommitments.However,adverseeconomicconditionsorchangingcircumstancesaremorelikelytoleadtoaweakenedcapacityoftheobligortomeetitsfinancialcommitments. Non-InvestmentGrade(alsoknownasspeculative-grade) BB:Anobligorrated'BB'islessvulnerableintheneartermthanotherlower-ratedobligors.However,itfacesmajorongoinguncertaintiesandexposuretoadversebusiness,financial,oreconomicconditions,whichcouldleadtotheobligor'sinadequatecapacitytomeetitsfinancialcommitments. B:Anobligorrated'B'ismorevulnerablethantheobligorsrated'BB',buttheobligorcurrentlyhasthecapacitytomeetitsfinancialcommitments.Adversebusiness,financial,oreconomicconditionswilllikelyimpairtheobligor'scapacityorwillingnesstomeetitsfinancialcommitments. CCC:Anobligorrated'CCC'iscurrentlyvulnerable,andisdependentuponfavorablebusiness,financial,andeconomicconditionstomeetitsfinancialcommitments. CC:Anobligorrated'CC'iscurrentlyhighlyvulnerable. C:highlyvulnerable,perhapsinbankruptcyorinarrearsbutstillcontinuingtopayoutonobligations R:Anobligorrated'R'isunderregulatorysupervisionowingtoitsfinancialcondition.Duringthependencyoftheregulatorysupervision,theregulatorsmayhavethepowertofavoroneclassofobligationsoverothersorpaysomeobligationsandnotothers. SD:hasselectivelydefaultedonsomeobligations D:hasdefaultedonobligationsandS&Pbelievesthatitwillgenerallydefaultonmostorallobligations NR:notrated Short-termissuecreditratings[edit] ThecompanyratesspecificissuesonascalefromA-1toD.WithintheA-1categoryitcanbedesignatedwithaplussign(+).Thisindicatesthattheissuer'scommitmenttomeetitsobligationisverystrong.Countryriskandcurrencyofrepaymentoftheobligortomeettheissueobligationarefactoredintothecreditanalysisandreflectedintheissuerating. A-1:obligor'scapacitytomeetitsfinancialcommitmentontheobligationisstrong A-2:issusceptibletoadverseeconomicconditionshowevertheobligor'scapacitytomeetitsfinancialcommitmentontheobligationissatisfactory A-3:adverseeconomicconditionsarelikelytoweakentheobligor'scapacitytomeetitsfinancialcommitmentontheobligation B:hassignificantspeculativecharacteristics.Theobligorcurrentlyhasthecapacitytomeetitsfinancialobligationbutfacesmajorongoinguncertaintiesthatcouldimpactitsfinancialcommitmentontheobligation C:currentlyvulnerabletononpaymentandisdependentuponfavorablebusiness,financialandeconomicconditionsfortheobligortomeetitsfinancialcommitmentontheobligation D:isinpaymentdefault.Obligationnotmadeonduedateandgraceperiodmaynothaveexpired.Theratingisalsouseduponthefilingofabankruptcypetition. Governancescores[edit] S&Phashadavarietyofapproachestoreflectingitsopinionoftherelativestrengthofacompany'scorporategovernancepractices.Corporategovernanceservesasinvestorprotectionagainstpotentialgovernance-relatedlossesofvalue,orfailuretocreatevalue. CGSscores[edit] S&Pdevelopedcriteriaandmethodologyforassessingcorporategovernance.ItstartedissuingCorporateGovernanceScores(CGS)in2000.CGSassessedcompanies'corporategovernancepractices.Theywereassignedattherequestofthecompanybeingassessed,werenon-public(althoughcompanieswerefreetodisclosethemtoandsometimesdid)andwerelimitedtopublicU.S.corporations.In2005,S&PstoppedissuingCGS.[6] GAMMAscores[edit] S&P'sGovernance,Accountability,ManagementMetricsandAnalysis(GAMMA)scoresweredesignedforequityinvestorsinemergingmarketsandfocusedonnon-financial-riskassessment,andinparticular,assessmentofcorporate-governancerisk.S&Pdiscontinuedprovidingstand-alonegovernancescoresin2011,"whilecontinuingtoincorporategovernanceanalysisinglobalandlocalscalecreditratings".[7] ManagementandGovernancecriteria[edit] InNovember2012,S&Ppublisheditscriteriaforevaluatinginsurersandnon-financialenterprises'managementandgovernancecreditfactors.[8]Thesescoresarenotstandalone,butratheracomponentusedbyS&Pinassessinganenterprise'soverallcreditworthiness.S&Pupdateditsmanagementandgovernancescoringmethodologyaspartofalargerefforttoincludeenterpriseriskmanagementanalysisinitsratingofdebtissuedbynon-financialcompanies."Scoringofmanagementandgovernanceismadeonascaleofweak,fair,satisfactoryorstrong,dependingonthemixofpositiveandnegativemanagementscoresandtheexistenceandseverityofgovernancedeficiencies."[9] DowngradesofCountries[edit] DowngradeofU.S.long-termcreditrating[edit] Mainarticle:UnitedStatesfederalgovernmentcreditratingdowngrade,2011 OnAugust5,2011,followingenactmentoftheBudgetControlActof2011,S&PloweredtheUS'ssovereignlong-termcreditratingfromAAAtoAA+.[10]Thepressreleasesentwiththedecisionsaid,inpart: "ThedowngradereflectsouropinionthatthefiscalconsolidationplanthatCongressandtheAdministrationrecentlyagreedtofallsshortofwhat,inourview,wouldbenecessarytostabilizethegovernment'smedium-termdebtdynamics. "Morebroadly,thedowngradereflectsourviewthattheeffectiveness,stability,andpredictabilityofAmericanpolicymakingandpoliticalinstitutionshaveweakenedatatimeofongoingfiscalandeconomicchallengestoadegreemorethanweenvisionedwhenweassignedanegativeoutlooktotheratingonApril18,2011. "Sincethen,wehavechangedourviewofthedifficultiesinbridgingthegulfbetweenthepoliticalpartiesoverfiscalpolicy,whichmakesuspessimisticaboutthecapacityofCongressandtheAdministrationtobeabletoleveragetheiragreementthisweekintoabroaderfiscalconsolidationplanthatstabilizesthegovernment'sdebtdynamicsanytimesoon."[10] TheUnitedStatesDepartmentoftheTreasury,whichhadfirstcalledS&P'sattentiontoits$2trillionerrorincalculatingtheten-yeardeficitreductionundertheBudgetControlAct,commented,"Themagnitudeofthismistake–andthehastewithwhichS&Pchangeditsprincipalrationaleforactionwhenpresentedwiththiserror–raisefundamentalquestionsaboutthecredibilityandintegrityofS&P’sratingsaction."[11]Thefollowingday,S&PacknowledgedinwritingtheUS$2trillionerrorinitscalculations,sayingtheerror"hadnoimpactontheratingdecision"andadding:[12] Intakingalongertermhorizonof10years,theU.S.netgeneralgovernmentdebtlevelwiththecurrentassumptionswouldbe$20.1trillion(85%of2021GDP).Withtheoriginalassumptions,thedebtlevelwasprojectedtobe$22.1trillion(93%of2021GDP).[12] In2013theJusticeDepartmentchargedStandard&Poor'swithfraudina$5billionlawsuit:U.S.v.McGraw-HillCosetal.,U.S.DistrictCourt,CentralDistrictofCalifornia,No.13-00779.SinceitdidnotchargeFitchandMoody'sandbecausetheDepartmentdidnotgiveaccesstoevidence,therehasbeenspeculationwhetherthelawsuitmayhavebeeninretaliationtoS&P'sdecisiontodowngrade.OnApril15,2013,theDepartmentofJusticewasorderedtograntS&Paccesstoevidence.[13] DowngradeofFrance'slong-termcreditrating[edit] OnNovember11,2011,S&PerroneouslyannouncedthecutofFrance'striple-Arating(AAA).Frenchleaderssaidthattheerrorwasinexcusableandcalledforevenmoreregulationofprivatecreditratingagencies.[14][15][16][17]OnJanuary13,2012,S&PtrulycutFrance'sAAArating,loweringittoAA+.Thiswasthefirsttimesince1975thatEurope'ssecond-biggesteconomy,France,hadbeendowngradedtoAA+.Thesameday,S&PdowngradedtheratingofeightotherEuropeancountries:Austria,Spain,Italy,Portugal,Malta,Slovenia,SlovakiaandCyprus.[18] Publications[edit] ThecompanypublishesTheOutlook,aweeklyinvestmentadvisorynewsletterforindividualsandprofessionalinvestors,publishedcontinuouslysince1922.[19]CreditWeekisproducedbyStandard&Poor'sCreditMarketServicesGroup.Itoffersacomprehensiveviewoftheglobalcreditmarkets,providingcreditratingnewsandanalysis.Standard&Poor'soffersnumerousothereditorials,investmentcommentariesandnewsupdatesforfinancialmarkets,companies,industries,stocks,bonds,funds,economicoutlookandinvestoreducation.Allpublicationsareavailabletosubscribers.[20] S&PDowJonesIndicespublishesseveralblogsthatdonotrequireasubscriptiontoaccess.TheseincludeIndexology,VIXViewsandHousingViews.[21] Criticismandscandal[edit] Seealso:Creditratingagency§ Criticism,andUnitedStatespublicdebt Roleinthe2007–08financialcrisis[edit] CreditratingagenciessuchasS&Phavebeencitedforcontributingtothefinancialcrisisof2007–08.[22]CreditratingsofAAA(thehighestratingavailable)weregiventolargeportionsofeventheriskiestpoolsofloansinthecollateralizeddebtobligation(CDO)market.Whentherealestatebubbleburstin2007,manyloanswentbadduetofallinghousingpricesandtheinabilityofbadcreditorstorefinance.InvestorswhohadtrustedtheAAAratingtomeanthatCDOwerelow-riskhadpurchasedlargeamountsthatlaterexperiencedstaggeringdropsinvalueorcouldnotbesoldatanyprice.Forexample,institutionalinvestorslost$125 millionon$340.7 millionworthofCDOsissuedbyCreditSuisseGroup,despitebeingratedAAAbyS&P.[23][22] CompaniespayS&P,Moody'sandFitchtoratetheirdebtissues.Asaresult,somecriticshavecontendedthatthecreditratingsagenciesarebeholdentotheseissuersinaconflictofinterestsandthattheirratingsarenotasobjectiveastheyoughttobe,duetothis"paytoplay"model.[24] In2015,StandardandPoor'spaid$1.5billiontotheU.S.JusticeDepartment,variousstategovernments,andtheCaliforniaPublicEmployees'RetirementSystemtosettlelawsuitsassertingitsinaccurateratingsdefraudedinvestors.[25] Criticismofsovereigndebtratings[edit] InApril2009,thecompanycalledfor"newfaces"intheIrishgovernment,whichwasseenasinterferinginthedemocraticprocess.Inasubsequentstatementtheysaidtheywere"misunderstood".[26] S&PacknowledgedmakingaUS$2trillionerrorinitsjustificationfordowngradingthecreditratingoftheUnitedStatesin2011,[27]butstatedthatit"hadnoimpactontheratingdecision".[28]JonathanPortes,directorofNIESR,Britain'slongestestablishedindependenteconomicresearchinstitute,hasobservedthat"S&P'srecord . . .isremarkable.TheagencydowngradedJapan'screditratingin2002,sincewhenithashadthelowestlong-terminterestratesinrecordedeconomichistory."[29]PaulKrugmanwrote,"it’shardtothinkofanyonelessqualifiedtopassjudgmentonAmericathantheratingagencies,"and,"S&P’sdemandssuggestthatit’stalkingnonsenseabouttheUSfiscalsituation".[30] Inlate2013,S&PdowngradedFrance'screditrating.PaulKrugmancommentedthatthedecisionwasbasedonpoliticsratherthansoundfinancialanalysis.[31] AustralianFederalCourtdecision[edit] InNovember2012,JudgeJayneJagotoftheFederalCourtofAustraliafoundthat: "AreasonablycompetentratingsagencycouldnothaveratedtheRembrandt2006-3CPDOAAAinthesecircumstances";[32]and "S&P’sratingofAAAoftheRembrandt2006-2and2006-3CPDOnoteswasmisleadinganddeceptiveandinvolvedthepublicationofinformationorstatementsfalseinmaterialparticularsandotherwiseinvolvednegligentmisrepresentationstotheclassofpotentialinvestorsinAustralia,whichincludedLocalGovernmentFinancialServicesPtyLtdandthecouncils,becausebytheAAAratingtherewasconveyedarepresentationthatinS&P’sopinionthecapacityofthenotestomeetallfinancialobligationswas“extremelystrong”andarepresentationthatS&PhadreachedthisopinionbasedonreasonablegroundsandastheresultofanexerciseofreasonablecarewhenneitherwastrueandS&Palsoknewnottobetrueatthetimemade."[32] Inconclusion,JagotfoundStandard&Poor'stobejointlyliablealongwithABNAmroandLocalGovernmentFinancialServicesPtyLtd.[32] Antitrustreview[edit] InNovember2009,tenmonthsafterlaunchinganinvestigation,theEuropeanCommission(EC)formallychargedS&PwithabusingitspositionasthesoleproviderofinternationalsecuritiesidentificationcodesforUnitedStatesofAmericasecuritiesbyrequiringEuropeanfinancialfirmsanddatavendorstopaylicensingfeesfortheiruse."Thisbehavioramountstounfairpricing,"theECsaidinitsstatementofobjectionswhichlaysthegroundworkforanadversefindingagainstS&P."The(numbers)areindispensableforanumberofoperationsthatfinancialinstitutionscarryout –forinstance,reportingtoauthoritiesorclearingandsettlement –andcannotbesubstituted.”[33] S&PhasruntheCUSIPServiceBureau,theonlyInternationalSecuritiesIdentificationNumber(ISIN)issuerintheUS,onbehalfoftheAmericanBankersAssociation.Initsformalstatementofobjections,theECalleged"thatS&PisabusingthismonopolypositionbyenforcingthepaymentoflicencefeesfortheuseofUSISINsby(a)banksandotherfinancialservicesprovidersintheEEAand(b)informationserviceprovidersintheEEA."Itclaimsthatcomparableagencieselsewhereintheworldeitherdonotchargefeesatall,ordosoonthebasisofdistributioncost,ratherthanusage.[34] Seealso[edit] NewYorkCityportal Companiesportal Economicsportal GlobalIndustryClassificationStandard Listofcountriesbycreditrating References[edit] ^"S&P|AboutS&P|Americas–KeyStatistics".Standard&Poor's.ArchivedfromtheoriginalonAugust16,2011.RetrievedAugust7,2011. ^Blumenthal,Richard(May5,2009)."ThreeCreditRatingAgenciesHoldTooMuchofthePower".JuneauEmpire–Alaska'sCapitalCityOnlineNewspaper.ArchivedfromtheoriginalonNovember1,2011.RetrievedAugust7,2011. ^"Corporate55WaterStreetNewYorkNewYork".Standard&Poor's.July3,2013.ArchivedfromtheoriginalonJune28,2013. ^abc"AHistoryofStandard&Poor's".ArchivedfromtheoriginalonFebruary15,2013.RetrievedFebruary11,2013. ^"Corporations:Standard&Unpoor".Timemagazine.October13,1961.ArchivedfromtheoriginalonDecember20,2011.RetrievedOctober19,2011. ^Taub,Stephen(September9,2005)."S&PStopsIssuingGovernanceScores".CFO.ArchivedfromtheoriginalonAugust27,2017.RetrievedMay28,2017. ^"S&PaffirmsandwithdrawsBancoSantander(Brasil)GAMMAscore".lta.reuters.com.Reuters.September1,2011.ArchivedfromtheoriginalonApril28,2018.RetrievedMay28,2017. ^"S&Preportoncriteriaformanagementandgovernancescores".Reuters.November13,2012.RetrievedMay28,2017. ^Berkenblit,HowardE.;Trumble,PaulD.(January2,2013)."Standard&Poor'sbrings"enhancedtransparency"tomanagementandgovernancecreditfactorsmethodology".www.lexology.com.Sullivan&WorcesterLLP.ArchivedfromtheoriginalonJanuary6,2017.RetrievedMay28,2017. ^abSwann,NikolaG;et al.(August5,2011)."UnitedStatesofAmericaLong-TermRatingLoweredTo'AA+'DueToPoliticalRisks,RisingDebtBurden;OutlookNegative"(Pressrelease).McGraw-HillCompanies:Standard&Poor's.ArchivedfromtheoriginalonAugust9,2011.RetrievedAugust5,2011. ^Bellows,John(August6,2011)."JusttheFacts:S&P's$2TrillionMistake".UnitedStatesDepartmentoftheTreasury.ArchivedfromtheoriginalonAugust10,2011.RetrievedAugust7,2011. ^ab"Standard&Poor'sClarifiesAssumptionUsedonDiscretionarySpendingGrowth"(Pressrelease).McGraw-HillCompanies:Standard&Poor's.August6,2011.ArchivedfromtheoriginalonJuly2,2015.RetrievedAugust6,2011. ^Stempel,Jonathan(April15,2014)."S&Pfailstosplitup$5billionU.S.fraudlawsuit".WSJ.ArchivedfromtheoriginalonApril29,2014.RetrievedApril29,2014. ^Horobin,William(November11,2011)."FranceSlamsS&PforDowngradeGaffe".TheWallStreetJournal.ArchivedfromtheoriginalonJanuary4,2017. ^S&PdowngradesFranceby‘mistake’|euronews,economy.Euronews.net.Retrievedon2013-12-23. ^Nazareth,Rita(November10,2011)."U.S.StocksAdvanceasS&PSaysItDidNotDowngradeFrance".TheSanFranciscoChronicle. ^Dilorenzo,Sarah(November14,2011)."FrancefretsaboutprizedAAAdebtrating".TheSanFranciscoChronicle.ArchivedfromtheoriginalonNovember15,2011. ^Gauthier-Villars,David;Forelle,Charles(January14,2012)."EuropeHitbyDowngrades".TheWallStreetJournal.p. A1. ^"Standard&Poor'sPremiumPublications".www.netadvantage.standardandpoors.com.RetrievedMay28,2017.[permanentdeadlink] ^"Standard&Poor'sEditorialFeatures".www.netadvantage.standardandpoors.com.RetrievedMay28,2017.[permanentdeadlink] ^"ThoughtLeadership–Overview–S&PDowJonesIndices".us.spindices.com.ArchivedfromtheoriginalonMay27,2017.RetrievedMay29,2017. ^abKlein,Joe(August6,2011)."Standard&Poor'sDowngradesItself".Time.ArchivedfromtheoriginalonSeptember18,2011.RetrievedAugust6,2011. ^Tomlinson,Richard;Evans,David(May31,2007)."CDOBoomMasksHugeSubprimeLosses,AbettedbyS&P,Moody'sFitch".Bloomberg.ArchivedfromtheoriginalonJuly20,2011.RetrievedAugust6,2011. ^Efing,Matthias;Hau,Harald(June18,2013)."Corruptedcreditratings:Standard&Poor'slawsuitandtheevidence".VoxEU.org.ArchivedfromtheoriginalonJuly3,2017.RetrievedMay28,2017. ^Viswanatha,Aruna(February3,2015)."S&Preaches$1.5billiondealwithU.S.,statesovercrisis-era..."reuters.com.ArchivedfromtheoriginalonApril17,2017.RetrievedApril28,2018. ^GAAVideo(April1,2009)."CowenAttacksCallfor'NewFaces'inCabinet".IrishIndependent.RetrievedAugust7,2011. ^Paletta,Damian(August5,2011)."U.S.DebtRatinginLimboasTreasuryFindsMathMistakebyS&PinDowngradeWarning".TheWallStreetJournal.ArchivedfromtheoriginalonAugust13,2011.RetrievedAugust5,2011. ^Goldfarb,ZacharyA.(August5,2011)."S&PDowngradesU.S.CreditRatingforFirstTime".TheWashingtonPost.ArchivedfromtheoriginalonAugust6,2011.RetrievedAugust5,2011. ^JonathanPortes(August24,2011)."Thecoalition'sconfidencetrick".NewStatesmen.ArchivedfromtheoriginalonJanuary31,2012.RetrievedFebruary17,2012. ^PaulKrugman(August5,2011)."S&PandtheUSA".TheNewYorkTimes.ArchivedfromtheoriginalonJuly9,2012.RetrievedAugust8,2011. ^Krugman,Paul(November11,2013)."ThePlotAgainstFrance".TheNewYorkTimes.NewYork.ArchivedfromtheoriginalonNovember16,2006.RetrievedNovember11,2013. ^abcBathurstRegionalCouncilvLocalGovernmentFinancialServicesPtyLtd(No5)[2012]FCA1200(5November2012),FederalCourt(Australia). ^SecuritiesTechnologyMonitor,ed.(2009)."ECChargesS&PWithMonopolyAbuse".ArchivedfromtheoriginalonJuly16,2011. ^ Finextra,ed.(2009)."EuropeanCommissionAccusesS&PofMonopolyAbuseoverIsinFees".ArchivedfromtheoriginalonMarch12,2011. Externallinks[edit] Officialwebsite S&PGlobalRatings S&PDowJonesIndices IntrotoCreditRatings-Standard&Poor's HistoryofStandard&Poor's vteS&PGlobalInc.Businessunits CRISIL Ratings S&PCapitalIQ LeveragedCommentary&Data IHSMarkit Platts S&PDowJonesIndices(jointventure) People JohnA.Hill JamesH.McGraw DouglasL.Peterson vteUSA'sNationallyrecognizedstatisticalratingorganizations(NRSROs) S&PRatings Moody'sInvestorsService FitchRatings DBRSMorningstar KrollBondRatingAgency A.M.BestCompany JapanCreditRatingAgency Egan-JonesRatingCompany HRRatingsdeMéxico,S.A.deC.V. AuthoritycontrolGeneral ISNI 1 VIAF 1 WorldCat(viaVIAF) Nationallibraries Norway France(data) Germany Israel UnitedStates CzechRepublic Other SUDOC(France) 1 Retrievedfrom"https://en.wikipedia.org/w/index.php?title=S%26P_Global_Ratings&oldid=1109927002" Categories:Americancompaniesestablishedin1941S&PGlobalFinancialservicescompaniesestablishedin1941CreditratingagenciesFinancialservicescompaniesbasedinNewYorkCityFinancialdatavendors1941establishmentsinNewYorkCity1966mergersandacquisitionsHiddencategories:AllarticleswithdeadexternallinksArticleswithdeadexternallinksfromSeptember2018ArticleswithpermanentlydeadexternallinksArticleswithshortdescriptionShortdescriptionisdifferentfromWikidataUsemdydatesfromJuly2011ArticleswithISNIidentifiersArticleswithVIAFidentifiersArticleswithBIBSYSidentifiersArticleswithBNFidentifiersArticleswithGNDidentifiersArticleswithJ9UidentifiersArticleswithLCCNidentifiersArticleswithNKCidentifiersArticleswithSUDOCidentifiersArticleswithWorldCat-VIAFidentifiers Navigationmenu Personaltools NotloggedinTalkContributionsCreateaccountLogin Namespaces ArticleTalk English Views ReadEditViewhistory More Search Navigation MainpageContentsCurrenteventsRandomarticleAboutWikipediaContactusDonate Contribute HelpLearntoeditCommunityportalRecentchangesUploadfile Tools WhatlinkshereRelatedchangesUploadfileSpecialpagesPermanentlinkPageinformationCitethispageWikidataitem Print/export DownloadasPDFPrintableversion Inotherprojects WikimediaCommons Languages العربيةБългарскиCatalàČeštinaDanskDeutschEestiΕλληνικάEspañolEsperantoEuskaraفارسیFrançaisGaeilge한국어हिन्दीBahasaIndonesiaÍslenskaItalianoעבריתҚазақшаLatviešuLietuviųMagyarМакедонскиमराठीBahasaMelayuNederlands日本語NorskbokmålPlattdüütschPolskiPortuguêsRomânăРусскийShqipSicilianuSrpskohrvatski/српскохрватскиSuomiSvenskaதமிழ்ไทยTürkçeУкраїнськаTiếngViệt中文 Editlinks