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S&P Global Inc. (NYSE: SPGI) is a leading provider of essential financial intelligence, empowering governments, businesses, and individuals with the right data, expertise, and connected technology to make decisions confidently. As the largest of the Big Three credit rating agencies, S&P Global provides a wide array of services including credit ratings, benchmarks, analytics, and workflow solutions that cater to the global capital, commodity, and automotive markets.
S&P Global Ratings is renowned for its financial research and analysis on stocks, bonds, and commodities. This segment remains the largest credit rating agency worldwide and is pivotal to the company’s profitability. Another significant segment, Market Intelligence, offers desktop, data, and advisory solutions, primarily targeting the financial services industry with platforms like Capital IQ Pro. This division was recently bolstered by the acquisition of Visible Alpha, enhancing its investment research and analytics capabilities.
In addition to these core areas, S&P Global encompasses Commodity Insights (including Platts), Mobility (with Carfax), and Indices (featuring the S&P 500® and Dow Jones Industrial Average®). The company's commitment to innovation and market leadership is further demonstrated through its strategic partnerships and acquisitions, such as the integration with CarNow to enhance automotive data analytics and customer engagement.
Recent news highlights include the integration of DigitalOcean Holdings Inc. into the S&P SmallCap 600, the enhanced oil sands production outlook by S&P Global Commodity Insights, and the strategic partnership between automotiveMastermind and CarNow. Moreover, the company's surveys and reports, like the one conducted with AARP on adult caregiving, showcase its role in addressing contemporary societal challenges.
Visit S&P Global for more information on their offerings and insights.
On September 30, 2020, S&P Global (NYSE: SPGI) announced the appointment of Richard E. Thornburgh as the new Non-Executive Chairman, succeeding Charles E. Haldeman, Jr. effective October 1, 2020. Haldeman, who joined the Board in 2012, will retire at the end of his term in 2021. Thornburgh, an independent Director since 2011 with notable experience in finance, aims to continue advancing S&P Global's strategic goals. Additionally, Marco Alverà was appointed Chair of the Finance Committee, and Lord Ian P. Livingston joined the Board, bringing extensive leadership experience.
S&P Global Platts announced that Petronet LNG Limited will use the Platts West India Marker (WIM) to price a tender for an LNG spot cargo to be delivered in November. This marks the first instance of an Indian LNG company utilizing the Platts WIM for pricing. Petronet, a key player in India's energy sector, operates terminals in Dahej and Kochi, reflecting India's increasing shift towards market-based LNG pricing. The WIM is gaining traction, with its use in domestic gas supply deals by companies like ONGC, signaling a significant development in the LNG market.
On September 25, 2020, S&P Global Platts announced the finalists for the 22nd Annual Global Energy Awards, recognizing energy companies from 33 countries. Two-thirds of the finalists are from outside the U.S., with a record 300 nominations received this year. The awards celebrate leadership in 21 categories, with winners to be revealed during a virtual gala on December 10. The event will also support food banks with a $250,000 donation. Emmy-winning actor Jason Alexander will emcee the ceremony, highlighting innovation and resilience in the energy sector.
S&P Global Platts has launched the first Sustainable Aviation Fuel (SAF) price assessment for the Americas, providing crucial transparency in this emerging market. This initiative follows their earlier launch of Europe's SAF price references. The launch comes amid a significant push for carbon neutrality by major airlines, including commitments from the oneworld alliance to achieve this by 2050. Despite a projected 35% drop in US jet fuel consumption due to the pandemic, the SAF market is incentivized by federal and state policies, including various environmental credit programs.
S&P Global Market Intelligence has integrated Trucost's environmental data into its platform, enabling users to analyze climate-related risks and opportunities alongside traditional financial metrics. The database includes information from over 15,000 companies, covering greenhouse gas emissions, water usage, and waste management. With this integration, corporates, asset managers, and pension funds can enhance their portfolio analytics and ESG decision-making processes. Trucost's data encompasses 99% of the global market capitalization, supporting a comprehensive analysis crucial in a post-COVID financial landscape.
S&P Global Market Intelligence has expanded its Market Intelligence Platform by adding over 10 million European private company profiles. This includes standardized financial data from key markets like Germany, France, and the United Kingdom. The new content aims to enhance accessibility to private company insights, aiding customers in making informed decisions. This release marks a significant step in their SME Initiative, which aims to provide comprehensive data on private companies. Future expansions to U.S., Canada, Asia, and Africa are planned.
S&P Dow Jones Indices and Experian reported data for the S&P/Experian Consumer Credit Default Indices through August 2020. The composite default rate increased one basis point to 0.67%. The bank card default rate fell 41 basis points to 3.45%, while the auto loan default rate rose by six basis points to 0.53%. In major metropolitan areas, Miami saw a significant increase of 16 basis points to 1.99%. Overall, four out of five MSAs reported higher default rates.
The S&P Dow Jones Indices and Experian have released data for the S&P/Experian Consumer Credit Default Indices through August 2020. The composite default rate increased by one basis point to 0.67%.
Notable decreases include the bank card default rate, which dropped 41 basis points to 3.45%, while the auto loan default rate rose six basis points to 0.53%, and the first mortgage default rate increased four basis points to 0.48%.
Miami recorded the highest increase among major metropolitan areas, rising 16 basis points to 1.99%.
S&P Global Platts announced that Cairn India Ltd., a unit of Vedanta Ltd., has adopted the Platts Dated Brent crude oil benchmark for pricing its Rajasthan crude sales. This marks the first instance of indigenous crude in India being priced against a global benchmark, effective from April 2020. Platts Dated Brent is utilized for over 60% of the world's oil pricing. Cairn India is India's largest private crude oil producer, and this transition reflects the trust in Platts' price reporting methods, according to Vera Blei, Head of Oil Markets at S&P Global Platts.
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