Disclosures
Click on a jurisdiction below to view the items of information about S&P Global Ratings required to be disclosed in that jurisdiction.
Brexit – Implications for Credit Ratings
Form NRSRO
On September 24, 2007, the U.S. Securities and Exchange Commission granted the registration of S&P Global Ratings as a nationally recognized statistical rating organization ("NRSRO") under the U.S. Credit Rating Agency Reform Act of 2006 (the "Act").
View Form NRSROS&P GLOBAL INC. SHAREHOLDERS & BOARD OF DIRECTORS
Quarterly Reporting of Shareholders Owning 5% or More of S&P Global Inc. Outstanding Common Stock And S&P Global Inc.'s Board of Directors and Their Affiliations and Board Memberships with Various Entities
Brexit – Implicaciones para Calificaciones Crediticias
Servicios Complementarios
Políticas
- Actividades Externas / Conducta Profesional
- Actividades Prohibidas
- Análisis de información y aplicación de criterios
- Asignación de Calificaciones Crediticias
- Comité de Calificación
- Independencia y Objetividad Divisional
- Corrección de Errores
- Difusión de Calificaciones
- Evitar la Divulgación Selectiva de Información Material No Pública
- Glosario
- Información Suficiente (Calidad de la Información)
- Roles y Responsabilidades
- Manejo de Información Confidencial
- Notificación al Emisor (incluyendo Apelación del Emisor)
- Obsequios, Atenciones, Conferencias y Otros Eventos
- Política Informativa Sobre Valores e Intermediación
- Addendum a la Política Informativa sobre Valores e Intermediación
- Prevención de Conflictos con Servicios Complementarios y Otros Servicios
- Quejas
- Recursos Suficientes
- Relación Potencial de Negocio
- Reportes de Conducta Ilegal, no Represalias
- Retiro, Discontinuación y Suspensión
- Revisión Retrospectiva
- Rotación de Analistas
- Servicios Complementarios & Otros Servicios
- Uso de Modelos
- Vigilancia
- Documentación y Conservación
- Metodologia
- Estándares de Capacitación, Experiencia y Competencia
- Código de Conducta de S&P Global Ratings
- Designación y Funciones del Compliance Officer (Oficial de Cumplimiento)
- Gobierno Corporativo
- Sitio Web Seguro – Regla 17g-5 de la SEC
- Interacción con el Mercado
- Código de Ética Empresarial
- Manejo de Proveedores
Estudios de Incumplimiento
Encuentre debajo un listado con los Estudios de Incumplimiento.
Contacto
S&P Global Ratings has an Australian Financial Services Licence for providing Credit Ratings in Australia. The following documents fulfill regulatory commitments in support of enhancing transparency of S&P Global Ratings' business operations in Australia, which are currently conducted through S&P Global Ratings Australia Pty. Limited.
Brexit – Implications for Credit Ratings
Ratings Methodologies, Models, and Assumptions
Criteria Requests for Comments
Information on the models and criteria which S&P Global Ratings in Australia uses in its credit rating activities.
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in Australia.
Potential Conflicts of Interest
Information on potential conflicts of interest at S&P Global Ratings in Australia
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in Australia.
Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in Australia.
Unsolicited Ratings Policy
Other Disclosures
Nesta seção você encontrará as informações regulatórias conforme a Instrução N°521/2012 da Comissão de Valores Mobiliários.
Brexit – Implicações para os ratings de crédito
Formulário de Referência
Código de Conduta
Políticas
- Administrando Informação Confidencial
- Adendo à Política de Divulgação e Negociação de Valores Mobiliários
- Política de Divulgação e Negociação de Valores Mobiliários
- Análise de Informações e Aplicação de Critérios
- Atividades Externas/Diretrizes de Conduta Profissional
- Atividades Proibidas
- Atribuição dos Ratings de Crédito
- Código de Ética Empresarial
- Comitê de Rating
- Correção de Erros
- Designação e Funções do Compliance Officer
- Divulgação dos Ratings
- Evitando Conflitos com os Serviços Auxiliares e Outros Serviços
- Evitando Divulgação Seletiva de Informação Não Pública Substancial
- Gerenciamento de Fornecedores de Rating
- Glossário
- Governança Corporativa
- Independência e Objetividade Divisional
- Informações Suficientes (Qualidade da Informação)
- Interação com o Mercado
- Manutenção de Registros e Retenção
- Metodologia
- Monitoramento
- Notificações ao Emissor (incluindo Apelações)
- Padrões de Treinamento, Experiência e Competência
- Papéis e Responsabilidades
- Potenciais Relações de Negócios
- Presentes, Entretenimento, Conferência e Outros Eventos
- Reclamação
- Recursos Suficientes
- Reporte de Conduta Ilegal, Sem Retaliações
- Retirada, Descontinuação e Suspensão
- Revisão Retroativa
- Rotação de Analista
- Serviços Auxiliares e Outros Serviços
- Uso de Modelos
- Website Seguro--Regra 17g-5 da SEC
Regras, Procedimentos e Controles Internos
Metodologias, Modelos, Premissas e Estudos de Default
Informações sobre critérios, estudos de default, metodologias e modelos que a S&P Global Ratings no Brasil utiliza em suas atividades de rating de crédito.
- Biblioteca de Critérios de Ratings
- Estudo de Default Corporativo e Transição de Ratings da América Latina
- Estudo Global Anual de Inadimplência de Empresas e de Transição de Ratings
- Princípios dos Ratings de Crédito
- Estudo Anual de Inadimplência de Governos e de Transição de Ratings
- Estudo Global Anual de Inadimplência de Operações Estruturadas e de Transição de Ratings
- Definições de Ratings da S&P Global Ratings
Tabela de Referência Cruzada
Tabela de Referência Cruzada (Especificações de Mapeamento) entre as Escalas Global e Nacional de Ratings
Relatórios de Classificação e Suas Atualizações
Para encontrar os relatórios da S&P Global Ratings sobre as entidades que esta avalia, há três rápidos caminhos: 1) pelo mecanismo de busca principal no topo do web site; 2) pelo mecanismo de Pesquisa de Ratings no canto superior esquerdo da sessão de RATINGS e 3) pela Pesquisa de Ratings por Área, também nesta última sessão. Para a rápida identificação dos ratings atribuídos pela S&P Global Ratings a empresas no Brasil, sugerimos colocar "Brasil" no mecanismo de busca "Filtrar por [país]" e clicar em "atualizar".
Ratings Preliminares
Potenciais Conflitos de Interesse
Informação sobre Potenciais Conflitos de Interesse da S&P Global Ratings no Brasil.
S&P Global Ratings Canada, a business unit of S&P Global Canada Corp., has been designated as a Designated Rating Organization in Canada. The following documents fulfill regulatory commitments in support of enhancing transparency of S&P Global Ratings' business operations in Canada.
Brexit – Implications for Credit Ratings
Ratings Methodologies, Models, and Assumptions
Information on the models and criteria which S&P Global Ratings in Canada uses in its credit rating activities.
Structured Finance Disclosure Site
Information about certain structured finance products submitted to Standard & Poor's Ratings Services (Canada) for initial review or for preliminary rating.
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in Canada.
Potential Conflicts of Interest
Information on potential conflicts of interest at S&P Global Ratings in Canada.
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in Canada.
Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in Canada.
Unsolicited Ratings Policy
Credit Ratings Performance Measurement Statistics
Credit rating performance measurement statistics are disclosed in Exhibit 1 of United States Securities and Exchange Commission Form NRSRO.
Form NRSROBrexit – Implications for Credit Ratings
S&P Global Ratings Europe Limited (SPGRE), a Dublin-based Irish company is registered with the European Securities and Markets Authority (ESMA) as a credit rating agency (CRA) under Regulation (EC) No. 1060/2009 as amended (“the Regulation”). Under the Regulation and related legislation, credit ratings issued or endorsed by ESMA-registered CRAs may be usable in the EU for certain regulatory purposes.
On October 31 2011, the three entities (SPCMSE, SPGRF and SPGRI) that have been doing business under the name S&P Global Ratings became registered as a Credit Rating Agency in the European Union. On August 1, 2018, SPCMSE, SPGRF and SPGRI had all been merged into S&P Global Ratings Europe Limited (SPGRE), a Dublin-based Irish company.
S&P Global Ratings is committed to the transparency of its business operations in the European Union. As part of this commitment to the regulatory community and the markets, S&P Global Ratings from time to time discloses information about its rating methodologies, publication schedules, and other matters. A listing of these disclosures follows below.
Ratings Methodologies, Models, and Assumptions
- Criteria Requests for Comments
- Requests for Comment
- Requests for Comment Responses
Information on the models and criteria which S&P Global Ratings in the EU uses in its credit rating activities.
Calendar of Publication Dates for Sovereign, Regional & Local Government Ratings
This calendar sets out publication dates for sovereign ratings and related rating outlooks as required by the European Union Regulation on credit rating agencies (Regulation (EC) No 1060/2009 on credit rating agencies, as amended). S&P Global Ratings has nominated two publication dates for each sovereign it currently rates from the European Union, including sovereigns that have solicited and unsolicited ratings. As required by the regulation, all publication dates are on Fridays and deviation from the calendar is only permitted in exceptional circumstances, to meet regulatory obligations. Any deviation would be accompanied by a detailed explanation.
Preliminary Ratings Disclosure List
Information about certain entities or debt instruments submitted to S&P Global Ratings for initial review or preliminary rating in the EU.
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in the EU.
Potential Conflicts of Interest
Information regarding potential conflicts of interest at S&P Global Ratings in the EU.
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in the EU.
Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in the EU.
Unsolicited Ratings Policy
Transparency Report
Shareholders and Directorships
Other Disclosures
- Notification of Change in Appeal Process
- Rated Entities and financial firms/Related Third Parties and Credit Ratings associated therewith subject to a current 'sensitive departure' review
- Rated Entities or Related Third Parties Accounting for More Than 5% of Annual Revenue
- Material Modifications to Systems, Resources and Procedures
- S&P Global Ratings’ Approach to ESG Risk
S&P Global Ratings has a Type 10 License for providing Credit Rating Services in Hong Kong. The following documents fulfill regulatory commitments in support of enhancing transparency of S&P Global Ratings' business operations in Hong Kong, which are currently conducted through S&P Global Ratings Hong Kong Limited.
Brexit – Implications for Credit Ratings
Ratings Methodologies, Models, and Assumptions
Information on the models and criteria which S&P Global Ratings in Hong Kong uses in its credit rating activities.
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in Hong Kong.
Potential Conflicts of Interest
Information regarding potential conflicts of interest at S&P Global Ratings in Hong Kong.
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in Hong Kong.
Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in Hong Kong.
Unsolicited Ratings Policy
Annual Disclosures
Other Disclosures
מתודולוגיות דירוג
מתודולוגיה - בקשה להערות
מידע על המתודולוגיות שמשמשות את S&P Global Ratings בפעילות דירוג האשראי בישראל
שירותים נלווים
מידע על שירותים נלווים ש-S&P Global Ratings עשויה לספק בישראל
ניגודי עניינים פוטנציאליים
מידע לגבי ניגודי עניינים פוטנציאליים ב-S&P Global Ratings בישראל
הסדרי תשלום
מידע על הסדרי התשלום של S&P Global Ratings בישראל
בעלות ובעלי שליטה
תרשים ארגוני
הגדרות דירוג
הקוד האתי
מדיניות פרסום דירוגים
קווי המדיניות הבאים מתייחסים לפרסום דירוגי אשראי בישראל על ידי S&P Global Ratings
נהלים
דוח שנתי
נתונים סטטיסטיים למדידת ביצועים של דירוגי אשראי
スタンダード＆プアーズ・レーティング・ジャパン株式会社の公表情報
金融商品取引法第66条の39に基づく説明書類
説明書類別添：付与した信用格付の履歴に関する情報
日本スタンダード＆プアーズ株式会社の公表情報
金融商品取引法第66条の39に基づく説明書類
説明書類別添：付与した信用格付の履歴に関する情報
スタンダード&プアーズ・レーティング・ジャパン株式会社
格付付与方針等
格付付与の方法の概要
当社が付与する信用格付に関する格付付与の方法の概要には、以下の格付け規準をご参照下さい。
非依頼格付に関する格付付与の方針及び方法
当社は、情報品質確保に関する方針に則り、十分な情報を有し、当該信用格付に関して市場に重要な関心が存在すると考える場合に、非依頼格付を付与することがある。
非依頼格付に対しても、原則として「格付付与方針等」が適用される。
当社は、非依頼格付について、当社の公開ウェブサイト等において、依頼によらないことを明示する。
格付提供方針等
日本スタンダード＆プアーズ株式会社
格付付与方針等
格付付与の方法の概要
当社が付与する信用格付に関する格付付与の方法の概要には、以下の格付け規準をご参照下さい。
非依頼格付に関する格付付与の方針及び方法
当社は、情報品質確保に関する方針に則り、十分な情報を有し、当該信用格付に関して市場に重要な関心が存在すると考える場合に、非依頼格付を付与することがある。
非依頼格付に対しても、原則として「格付付与方針等」が適用される。
当社は、非依頼格付について、当社の公開ウェブサイト等において、依頼によらないことを明示する。
格付提供方針等
スタンダード＆プアーズ・レーティング・ジャパン株式会社の格付けポリシー
日本スタンダード＆プアーズ株式会社の格付けポリシー
規制関連
- 英国の欧州連合からの脱退（ブレグジット）の信用格付への影響について
- S&P、格付け規準の変更の影響を受ける可能性のある格付けへの「UCO」の識別子付記を発表(2013-12-05)
- EUでの日本の格付けの承認に関する詳細を発表 (2011-11-01)
- 【S&P】ストラクチャード・ファイナンスの識別子「(sf)」の付与対象を変更 (2014-03-25)
- ストラクチャード・ファイナンス格付けの識別子を導入 (2010-08-23)
- ストラクチャード・ファイナンス格付けの識別子の付与対象を発表 (2010-06-29)
- ストラクチャード・ファイナンス格付けに識別子を付与することを発表 (2010-02-17)
México -- S&P Global Ratings S.A. de C.V. no cuenta con consejeros independientes asignados (Disposiciones aplicables a las Instituciones Calificadoras de Valores, Anexo 1, Fracción VI.B).
Brexit – Implicaciones para Calificaciones Crediticias
Reporte de Calificaciones - Actuales e Histórico
Este reporte incluye la lista de calificaciones asignadas por S&P Global Ratings S.A. de C.V. a cada uno de los emisores que actualmente califica, desde la asignación de la calificación inicial.
Informes Anuales
Código de Conducta
Políticas
- Actividades Externas / Conducta Profesional
- Actividades Prohibidas
- Análisis de información y aplicación de criterios
- Asignación de Calificaciones Crediticias
- Comité de Calificación
- Independencia y Objetividad Divisional
- Corrección de Errores
- Designación y Funciones del Compliance Officer (Oficial de Cumplimiento)
- Difusión de Calificaciones
- Documentación y Conservación
- Estándares de Capacitación, Experiencia y Competencia
- Evitar la divulgación selectiva de información material no pública
- Glosario
- Gobierno Corporativo
- Información Suficiente (Calidad de la Información)
- Interacción con el Mercado
- Manejo de Información Confidencial
- Notificación al Emisor (incluyendo Apelación del Emisor)
- Obsequios, Atenciones, Conferencias y Otros Eventos
- Política Informativa Sobre Valores e Intermediación
- Addendum a la Política Informativa sobre Valores e Intermediación
- Prevención de Conflictos con Servicios Complementarios y Otros Servicios
- Roles y Responsabilidades
- Quejas
- Recursos Suficientes
- Relación Potencial de Negocio
- Reportes de Conducta Ilegal, no Represalias
- Retiro, Discontinuación y Suspensión
- Revisión Retrospectiva
- Rotación de Analistas
- Servicios Complementarios & Otros Servicios
- Sitio Web Seguro (Regla 17g-5 de la SEC)
- Metodologia
- Uso de Modelos
- Vigilancia
- Código de Ética Empresarial
- Manejo de Proveedores para Calificaciones
Proceso de Calificación Crediticia
Estudios de Incumplimiento
Encuentre debajo un listado con los Estudios de Incumplimiento.
- Estudio de Incumplimiento y Transición de Calificaciones para los Sectores Corporativo y de Finanzas Públicas de México – 2018
- Estudio Anual de Incumplimiento y Transición de Calificaciones de Financiamiento Estructurado de México – 2018
- Estudio de Incumplimiento y Transición de Calificaciones para el Sector Corporativo en América Latina – 2018
Contacto
Brexit – Implications for Credit Ratings
RATINGS METHODOLOGIES, MODELS AND ASSUMPTIONS
Information on the criteria which S&P Global Ratings in the Kingdom of Saudi Arabia uses in its credit rating activities.
ANCILLARY SERVICES
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in the Kingdom of Saudi Arabia.
POTENTIAL CONFLICTS OF INTEREST
Information regarding potential conflicts of interest at S&P Global Ratings in the Kingdom of Saudi Arabia.
COMPENSATION ARRANGEMENTS
Information on compensation arrangements of S&P Global Ratings in the Kingdom of Saudi Arabia.
CODE OF CONDUCT
RATING PUBLICATION POLICIES
The following Policies address publication of Credit Ratings by S&P Global Ratings in the Kingdom of Saudi Arabia.
UNSOLICITED RATINGS POLICY
Transparency Report
CREDIT RATINGS PERFORMANCE MEASUREMENT STATISTICS
OTHER DISCLOSURES
انسحاب بريطانيا من الاتحاد الأوروبي - تأثيراتها على التصنيفات الائتمانية
الإفصاح التنظيمي للمملكة العربية السعودية
مناهج ونماذج وفرضيات التصنيفات
معلومات حول المعايير التي تستخدمها وكالة إس آند بي جلوبال للتصنيفات الإئتمانية في المملكة العربية السعودية لممارسه نشاطها للتصنيفات الإئتمانية
النشاطات المساندة
معلومات حول النشاطات المساندة والخدمات الأخرى التي قد تقوم وكالة إس آند بي جلوبال للتصنيفات الإئتمانية في المملكة العربية السعودية
التضارب المحتمل في المصالح
معلومات حول التضارب المحتمل في المصالح في وكالة إس آند بي جلوبال للتصنيفات الإئتمانية في المملكة العربية السعودية
إجراءات دفع الأجور
معلومات حول إجراءات دفع الأجور لدى وكالة إس آند بي جلوبال للتصنيفات الإئتمانية في الممكلة العربية السعودية
قواعد السلوك
سياسات نشر التصنيف
تتناول السياسات التالية نشر وكالة إس آند بي جلوبال للتصنيفات الإئتمانية في المملكة العربية السعودية
سياسة التصنيفات غير المطلوبة
تقريرالشفافية
إحصائيات قياس أداء التصنيفات الائتمانية
إفصاحات أخرى
Brexit – Implications for Credit Ratings
Ratings Methodologies, Models, and Assumptions
Information on the models and criteria which S&P Global Ratings in Singapore uses in its credit rating activities.
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in Singapore.
Potential Conflicts of Interest
Information on potential conflicts of interest at S&P Global Ratings in Singapore.
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in Singapore.
Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in Singapore.
Unsolicited Ratings Policy
Annual Disclosures
Other Disclosures
On 6 May 2014, S&P Global Ratings (conducting business in South Africa through the South Africa branch of Standard & Poor’s Credit Market Services Europe Limited (“SPCMSE”)) became registered as a Credit Rating Agency in South Africa in accordance with Section 5(1) of the Credit Rating Services Act, 24 of 2012.
On 30 June 2018, SPCMSE merged with S&P Global Ratings Europe Limited (“SPGRE”), an Irish company, with SPGRE becoming the South African registered entity on that date.
As SPGRE is the legal successor of SPCMSE, credit ratings issued/assigned by the SPCMSE South Africa Branch should be considered as if they were issued/assigned by the SPGRE South Africa Branch as of the merger date of 30 June 2018. In accordance with our Surveillance Policy, all outstanding credit ratings issued by the SPGRE South Africa Branch are subject to ongoing and at least annual review.
The following documents fulfill regulatory commitments and enhance transparency of S&P Global Ratings' business operations in South Africa.
Brexit – Implications for Credit Ratings
Ratings Methodologies, Models, and Assumptions
Information on the models and criteria which S&P Global Ratings in South Africa uses in its credit rating activities.
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in South Africa.
Potential Conflicts of Interest
Information regarding potential conflicts of interest at S&P Global Ratings in South Africa.
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in South Africa.
Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in South Africa.
Unsolicited Ratings Policy
Annual Report
Credit Ratings Performance Measurement Statistics
Credit rating performance measurement statistics are disclosed in Exhibit 1 of United States Securities and Exchange Commission Form NRSRO.
Informational Announcement: Brexit – Implications for Credit Ratings
S&P Global Ratings Europe Limited (SPGRE), a Dublin-based Irish company is registered with the European Securities and Markets Authority (ESMA) as a credit rating agency (CRA) under Regulation (EC) No. 1060/2009 as amended (“the Regulation”). Under the Regulation and related legislation, credit ratings issued or endorsed by ESMA-registered CRAs may be usable in the EU for certain regulatory purposes.
After the UK determined in 2016 to leave the EU (“Brexit”), we have worked to ensure that credit ratings issued by S&P Global Ratings in the UK and elsewhere outside the EU post-Brexit will still be usable for EU regulatory purposes. For this reason, we recently merged many of our EMEA operating entities into SPGRE. Rating operations carried on in our London, Moscow, Dubai, Johannesburg and Riyadh offices are now being conducted by SPGRE through its branches in those locations. We also merged our Frankfurt, Madrid, Warsaw, Paris, Milan, and Stockholm rating operations into SPGRE with such operations now being conducted through its branches there.
To ensure that S&P Global Ratings’ credit ratings are also usable for regulatory purposes under the emerging future CRA regulation in the UK, we are registering a new CRA, S&P Global Ratings UK Limited (SPGRUK), with the UK Financial Conduct Authority (FCA). In addition to issuing its own credit ratings, SPGRUK will endorse credit ratings issued by SPGRE and by other S&P Global Ratings offices in endorsable jurisdictions. In case of a no-deal Brexit on 29 March 2019, we expect SPGRUK to be treated as registered with the FCA from that date under the UK’s temporary CRA registration regime. However, the ability of UK CRAs, such as SPGRUK, to endorse credit ratings issued by EU CRAs into the UK under the future UK CRA regulation is currently still conditional upon the FCA recognizing the EU as an endorsable jurisdiction. Similarly, the ability of EU CRAs, such as SPGRE, to endorse credit ratings issued by UK CRAs into the EU is currently still conditional upon ESMA recognizing the UK as an endorsable jurisdiction.
Ratings Methodologies, Models, and Assumptions
- Criteria Requests for Comments
- Requests for Comment
- Requests for Comment Responses
Information on the models and criteria which S&P Global Ratings uses in its credit rating activities.
Calendar of Publication Dates for Sovereign, Regional & Local Government Ratings
This calendar sets out publication dates for sovereign ratings and related rating outlooks. S&P Global Ratings has nominated two publication dates for each sovereign it currently rates from Europe, the Middle East and Africa, including sovereigns that have solicited and unsolicited ratings. As required by regulation, all publication dates are on Fridays and deviation from the calendar is only permitted in exceptional circumstances, to meet regulatory obligations. Any deviation would be accompanied by a detailed explanation.
Preliminary Ratings Disclosure List
Information about certain entities or debt instruments submitted to S&P Global Ratings for initial review or preliminary rating.
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings.
Potential Conflicts of Interest
Information regarding potential conflicts of interest at S&P Global Ratings.
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings.
Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings.
Unsolicited Ratings Policy
Shareholders and Directorships
Other Disclosures
ESMA - S&P Global Ratings' Endorsement of Ratings
As of 30 April 2012, global scale ratings issued by the following entities are endorsable*:
- Argentina: Standard & Poor's Ratings Argentina S.r.l, Agente de Calificacion de Riesgo
- Australia: Standard & Poor's (Australia) Pty Ltd
- Brazil: Standard & Poor's Ratings do Brasil, Ltda
- Canada: Standard & Poors Ratings Services (Canada), a business unit of the McGraw-Hill Companies (Canada) Corp.
- Hong Kong: Standard & Poor's Hong Kong Ltd
- Japan: Standard & Poor's Ratings Japan K.K. and Nippon Standard & Poor's K.K.
- Mexico: Standard & Poor's SA de CV
- Singapore: Standard & Poor's Singapore Pte Ltd
- United States*: Standard & Poor's Financial Services LLC
* Note: for U.S. Public Finance, we will endorse ratings "on request," as we expect limited market demand for these endorsements.
We understand that only those ratings bearing the EU and EE identifiers are usable for certain regulatory purposes in the EU. S&P Global Ratings' definitions of these identifiers can be found under section "VII. OTHER IDENTIFIERS" on the S&P Global Ratings' Definitions page.