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Forward-looking opinion of an obligor’s creditworthiness
An Issue Credit Rating takes into consideration the creditworthiness of guarantors, insurers, or other forms of credit enhancement on the obligation and takes into account the currency in which the obligation is denominated. The opinion reflects our view of the obligor's capacity and willingness to meet its financial commitments as they come due, and may assess terms, such as collateral security and subordination, which could affect ultimate payment in the event of default.
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Long-term or short-term Issue Credit Ratings
Issue Credit Ratings can be either long-term or short-term. Short-term ratings are generally assigned to those obligations considered short-term in the relevant market. In the U.S., for example, that means obligations with an original maturity of no more than 365 days-including commercial paper. Short-term ratings are also used to indicate the creditworthiness of an obligor with respect to put features on long-term obligations. Medium-term notes are assigned long-term ratings.
Issue Credit Ratings
A forward-looking opinion about the creditworthiness of an obligor with respect to a specific financial obligation, a specific class of financial obligation, or a specific financial program.
Issue Credit Ratings
Deliverables
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Long-Term Issuer Credit Ratings
Assigned on our globally recognized 'AAA' through 'D' rating scale.
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Short-Term Issuer Credit Ratings
Assigned on our 'A-1' through 'D' rating scale.
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Full Ratings Analysis
Accompanied by a full ratings analysis, based on our ratings scale and methodology, including ongoing surveillance, if applicable.
Let's have a chat about Issue Credit Ratings
Get Started- Distribution
- Preliminary Ratings
- Corporate Credit Rating
- U.S. Public Finance
- Guide to Credit Rating Essentials
- S&P Global Ratings Criteria
- S&P Global Ratings Definitions
Distribution
Distribution
Our credit ratings are provided for distribution to public or private markets or, where applicable, available for internal (confidential) management use only. They are distributed (where applicable), on the following basis:
- Public ratings, distributed via our websites and various news media, for issuers of publicly rated securities or private loan transactions of any size.
- Private ratings, distributed via a secure website for distribution to up to 75 named third-parties.
- Confidential ratings, not distributed. Applicable for use by entities seeking an internal benchmark.
Preliminary Ratings
Preliminary Ratings
Preliminary ratings, with the 'prelim' suffix, may be assigned to obligors orobligations, including financial programs, in the circumstances described in S&P Global Ratings Definitions. Assignment of a final rating is conditional on the receipt by Standard & Poor's of appropriate documentation. We reserve the right not to issue a final rating. Moreover, if a final rating is issued, it may differ from the preliminary rating.
Corporate Credit Rating
Corporate Credit Rating: Your Credit Credential
You want to explain your creditworthiness and financial strength to others. You need a credit credential. Our Corporate Credit Rating (Issuer Credit Rating) provides you with this credential – it’s our distinct view of your company’s overall creditworthiness. Use it as an information tool for your business counterparties, such as banks, clients, suppliers, investors and joint–venture partners.
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U.S. Public Finance: Gain New Insights
To make business decisions with confidence, issuers and investors around the world need access to objective and independent information, including opinions based on indepth market knowledge, strong analytics and transparent criteria. And with a company history of more than 150 years, that’s exactly what we continue to deliver.
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What are credit ratings and how do they work?
S&P Global Ratings is a leading provider of independent credit ratings and analysis, offering a combination of global perspective with local insight. We update and refine our processes, from time to time, to align with new developments in the marketplace, enabling us to offer insightful opinions that help market participants make more informed investment decisions.
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S&P Global Ratings Criteria
S&P Global Ratings welcomes written comments from market participants on its Criteria currently in use or on proposed Criteria.
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S&P Global Ratings Definitions
This document contains S&P Global Ratings' definitions of credit ratings and other credit-related opinions. The credit ratings are classified into two types: general-purpose credit ratings and special-purpose ratings. S&P Global Ratings uses letters, numbers, words, or combinations of these in each rating scale to summarize its opinion. The rating definitions provide the meaning of the letters, numbers, and words. Additionally, some ratings feature qualifiers, suffixes, identifiers, prefixes, or a combination of these. Definitions of this supplementary information are included. NR indicates that a rating has not been assigned or is no longer assigned.
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