Ratings Policies and Code of Conduct

Standard & Poor's Ratings Services' policies and Code of Conduct, as on file with the United States Securities and Exchange Commission, can be accessed through this link.


Policies and other information are included within the exhibits to Form NRSRO, based on the subjects each exhibit addresses, as follows:

Exhibit Number	Subject
1	Credit rating performance measurement statistics
2	Procedures and methodologies used in determining credit ratings
3	Policies or procedures to prevent the misuse of material, non-public information
4	Organizational structure
5	Code of ethics
6	Identification of conflicts of interest
7	Policies and procedures to address and manage conflicts of interest
8	Certain information regarding credit analysts and credit analyst supervisors
9	Certain information regarding the designated compliance officer

In addition to the materials filed with Form NRSRO, certain policies and information, including information applicable in respect of Standard & Poor’s Ratings Services’ operations within the European Union, can be accessed through this link.

A summary of Standard & Poor’s Ratings Services’ position with respect to communications with issuers can be accessed through this link.