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The content of the Web Site made accessible by Standard & Poor's includes, but is not limited to, the Standard & Poor's ratings and other opinions, text, data, reports, images, photos, graphics, graphs, charts, animations and video, as further described below.
Historical Ratings pursuant to SEC Rule 17g-2(d) (2) and (3)
Historical Standard & Poor's outstanding issuer-paid credit ratings in each class of credit rating for which Standard & Poor's is registered as a Nationally Recognized Statistical Rating Organization ("NRSRO") is available at the 10% Disclosure Tab and the 100% Disclosure Tab (collectively, the "Ratings History"). The Ratings History is made available free of charge subject to applicable time delays. It is intended that the availability of Ratings History on this Web Site will advance the Securities and Exchange Commission ("SEC's") goal of fostering accountability and comparability among NRSROs with respect to issuer-paid credit ratings. As such, the Ratings History may be used to, inter alia, perform analysis comparing how different NRSROs perform in the class of credit ratings for which they are registered.
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Non-Historical Ratings made available on standardandpoors.com
All ratings on the Web Site, excluding only the Ratings History, are referred to as "Non-Historical Ratings", regardless of their currency or date of issuance.
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You may, on an ad hoc basis, use individual Non-Historical Ratings in the ordinary course of securities disclosure activities and the drafting of transaction documents internally within your organization or publish, on a non-commercial basis, selected individual Non-Historical Ratings.
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Narrative Content made available on standardandpoors.com
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Other Content made available on standardandpoors.com
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CUSIP numbers made available on standardandpoors.com
The CUSIP information made available on standardandpoors.com (the "CUSIP Database") consists of security identifiers and related descriptive information and is protected under copyright laws and is licensed with permission from CUSIP Global Services ("CGS"), on behalf of the American Bankers Association ("ABA").
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User agrees that User shall not publish or distribute in any medium the CUSIP Database or any information contained therein or summaries or subsets thereof to any person or entity except in connection with the normal clearing and settlement of security transactions. Any use by User outside of the clearing and settlement of transactions may require a license from CGS, and a possible fee. User agrees that misappropriation or misuse of such materials will cause serious damage to CGS and ABA, and that in such event money damages may not constitute sufficient compensation to CGS and ABA; consequently, User agrees that in the event of any misappropriation or misuse, CGS and ABA shall have the right to obtain injunctive relief in addition to any other legal or financial remedies to which CGS and ABA may be entitled.
User further agrees that the use of CUSIP numbers and descriptions is not intended to create or maintain, and does not serve the purpose of the creation or maintenance of, a master file or database of CUSIP descriptions or numbers for itself or any third party recipient of such service (even if in connection with the clearing and settlement of transactions) and is not intended to create and does not serve in any way as a substitute for the CUSIP MASTER FILE, DB, INTERNET, ELECTRONIC Services and/or any other future services developed by CGS .
The Ratings History, Non-Historical Ratings, Narrative Content, Other Content and CUSIP Database are collectively referred to herein as the "Content."
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7. TIMELINESS OF CONTENT
The Content displayed on the Web Site, including, but not limited to, reports and other opinions, is current as of the date appearing on the report and is subject to change without notice. Unless indicated otherwise, by Standard & Poor's. However, Standard & Poor's does not guarantee or warrant the accuracy, timeliness, or completeness of any ratings you access using the Web Site, and assumes no obligation to update any information following publication.
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