Your credit risk management toolkit (2024)

As the official source for S&P Global Ratings credit ratings and research, RatingsDirect combines this essential intelligence with comprehensive market data, credit risk indicators and dynamic visualization tools, all on a single platform.

Get the whole credit story, faster, from your desktop or on the go.

• Widest coverage with 1 million+ credit ratings outstanding
• Global, national and regional scale credit ratings on issuer and issue level
• Detailed research on issuer and issue level, economies, credit trends, hot topics (including Environmental, Social, and Governance [ESG]) and special reports
• Credit research in Chinese, Portuguese, Russian, and Spanish
• Credit adjusted Income Statements, Balance Sheets and Cash Flow

Efficiently evaluate probabilities of default based on S&P Global Ratings' default and ratings migration data covering 17,000+ companies, 130,000+ securities, 120,000+ structured finance issues, and 160+ sovereign entities across the globe.

This robust analytic tool helps you formulate future default and ratings migration scenarios, and validate internal rating systems used for credit risk analysis. Consistently defined, measured, and maintained—CreditPro^®provides comprehensive data sets that support the development, calibration, and backtesting that analytical risk valuation models must meet today.

Each day you face the challenges of monitoring transactions in a constantly evolving, cutting-edge market where no two deals are alike. Managing a Structured Finance portfolio is a complex job with many moving pieces. We can help you monitor and evaluate structured finance securities—with the latest global structured finance research, industry news, and sector trends, to servicer evaluations.

Power your mortgage risk analysis by using residential mortgage loan characteristics, borrower data and regional economic data from S&P Global Ratings’ Loan Evaluation and Estimate of Loss System (LEVELS). Evaluate credit risk and best-execution securitization scenarios with in-depth loan-level analysis and reports with estimates of loan/pool-level performance.

The Public Finance Automated Scoring Tool (PFAST) synthesizes multiple statistically validated probability of default (PD) and loss-given default (LGD) Scorecard methodologies, quantitative and qualitative segment-specific risk factors and market benchmarks into a single, robust internal ratings framework, helping you identify and manage PF credit risk.

The PFAST Scorecard provides a powerful capability to consistently measure credit risks across all the different public finance segments.

• Automated quantitatively derived PFAST Scores for all U.S. cities, counties, school districts and states
• Rigorous, tested and documented approach supported by scoring criteria, user and technical documentation
• A large and continually growing database of municipal entities financials and economic data for the major PF segment
• PFAST enhances consistency and transparency of internal rating systems in an easy to understand approach
• Ability to tap into a detailed source of PF credit risk data and generate automated scores in key segments

Assessing a company’s credit risk can be challenging and time consuming due to differing filing obligations, and inconsistent timeliness, availability and quality of data.

Get a detailed picture of a company’s credit risk with RiskGauge Reports from S&P Global Market Intelligence. These comprehensive creditreports, applicable for over 50 million public and private companies worldwide−including small- and medium-enterprises (SMEs), are powered by dynamic analytical models and robust data including:

• S&P Global RiskGauge Scoreprovides a holistic credit risk score comprising elements of a company’s PD Model Fundamentals, PD Model Market Signals, and CreditModel™ scores.
• PaySense (BETA) identifies potential delays of trade payables by leveraging historical trade payable data and macroeconomic factors.
• MaxLimit identifies maximum exposure limits byanalysinga customer’s financial and industry risks, and supplier’s risk appetite.

Climate change has created a need to evaluate the impact of different climate-related scenarios on counterparties, investments, and portfolios. To support these efforts, S&P Global Market Intelligence and Oliver Wyman present Climate Credit Analytics, a climate scenario analysis and credit analytics model suite. These tools combine S&P Global Market Intelligence’s data resources and credit analytics capabilities with Oliver Wyman’s climate scenario and stress-testing expertise.

This solution is powered by S&P Global Market Intelligence’s proprietary datasets, including:

• Financials and industry-specific data
• Quantitative credit scoring methodologies from Credit Analytics
• Company-level greenhouse gas (GHG) emissions and environmental impact data from Trucost
• Global supply chain and shipping data from Panjiva

Climate RiskGauge estimates the financial impact of climate transition and macro-economic physical risks by looking at a compact set of financials, projected emissions as well as a firm’s implied market capitalization, to arrive at the estimation of a credit score change1 over a given time horizon for public and private companies.

We Support

• The Task Force on Climate-related Financial Disclosures’ (TCFD) recommendations on forward-looking scenario analysis.
• Climate-related stress testing that regulators are increasingly expecting from financial institutions, at both a single counterparty and portfolio level.
• Incorporation of climate related risks into credit-related policies, procedures, strategies and overall risk appetite of a financial institution.
• Climate risk-adjusted valuations of companies for the purpose of capital markets issuances, mergers and acquisitions and other types of corporate financing and investment activities.

Our cutting-edge analytical models and unrivalled data help you quickly and easily measure the credit risk of rated, unrated, public and private companies across the globe.

• PD Model Market Signals provides a point-in-time view of credit risk, and early warning signals of potential default between reporting periods, for 82,000+* public companies.Download the brochure >
• PD Model Fundamentals identifies potential default by assessing financial risk, and business risk. Calibrated on +15 years of defaults, and available for more than 8 million* public and private companies.Download the brochure >
• CreditModel™ is a powerful suite of over 100 statistical models, trained on credit ratings from S&P Global Ratings, help you evaluate the long-term creditworthiness of public and private, rated and unrated companies. Pre-scores available for over 450,000* companies worldwide.Download the brochure >
• The Macro-Scenario Model enables users to gauge how a firm’s credit risk may change by leveraging either user-defined or pre-defined forward-looking macroeconomic scenarios.Download the brochure >

*Pre-score coverage as of November 11, 2022.

Having an exposure to a distressed firm, and a potential default is a real possibility. Your concern drives not only from the possibility of that default, but what you can expect to recover, or lose, if default occurs. Understanding potential recovery and a default can be hard to accomplish, with many approaches relying on standardized assumptions. With LossStats Model you have an alternative.

This default and recovery approach helps you estimate the loss and recovery levels of US and European fixed income and lending facilities, taking into account industry and instrument specific characteristics. Calibrated upon a proprietary database covering more than 4,000 US bond and loan recoveries spanning over 30 years, and 1,000 European bond and loan recoveries spanning over 13 years.

The China Credit Analytics platform integrates S&P Global Market Intelligence's localized credit analytics, featuring data from over 20 million Chinese private companies and our quantitative credit models calibrated to local default data.

It offers a one-stop-shop solution for users to search, evaluate, and monitor the credit profiles of Chinese Small and Medium-sized Enterprises (SME).

Generate credit insights on Chinese Small and Medium-sized Enterprises (SME) using differentiated content and localised analytics with outputs that broadly align with credit ratings.

• Search and screen over20 million Chinese private companies.
• Utilize S&P Global Market Intelligence'sProbability of Default Fundamental (PDFN) model calibrated to Chinese default datato analyze local companies in China.
• Leverage the credit workflow tools to performbatch scoringandthe credit risk dashboardto visualize a credit profile for a portfolio of entities.
• Access1 million larger Chinese SME's pre-scored Probability of Defaults with industry and provincial level benchmarks.
• Take advantage of the dual language user interface that supports both Chinese and English languages.

Identify potential default risks of private, publicly traded, rated, and unrated companies and government entities—including “Low Default” portfolios lacking the extensive default data needed to construct, calibrate and validate statistical models.

Gain confidence in your decision-making, and the reliability of your internal risk rating systems with70Scorecards for all major asset classes, and leading benchmarks, including 140 Industry and Country Risk scores.

Follow a roadmap to consistently assess creditworthiness, focusing on the key risk factors most predictive of default risk, aiding replicability year-to-year, analyst-to-analyst. Outputs are broadly aligned with S&P Global Ratings’ criteria, and supported by default data dating back to 1981.

Refine the assessment of your potential exposure to defaults with our Loss Given Default (LGD)models and scorecards for low default asset classes.

Evaluate potential economic losses on a continuous scale with models that employ S&P Global Ratings’ analytical methodologies, proprietary research, and historical data. By incorporating qualitative and quantitative factors, our models and scorecards focus on sectors where default, and therefore recovery data, is scarce. This allows you to:

• Meet Basel regulatory requirements by implementing LGD methodologies.
• Validate and benchmark existing models and methodologies with LGD client data pooling and collection exercises.
• Produce facility-specific estimates of LGD in the low default environment with internal ratings-based methodology.

International Financial Reporting Standards 9 (IFRS 9) requires firms to take account of future expected credit losses (ECLs) to calculate provisions for their financial instruments, investment portfolios, loan books, and trade receivables. This change requires the use of forward-looking analytics. With deadlines fast approaching, are you prepared for the transition?

IFRS 9 addresses the accounting for financial instruments and contains three main topics:

• Classification and measurement of financial instruments.
• Impairment of financial assets.
• Hedge accounting.

Our approach follows the traditional method of estimatingECL from its base components: Probability of Default (PD), Loss Given Default (LGD, which is the severity of loss in the event of default), and Exposure at Default (EAD).

S&P Global Market Intelligence’s Credit Assessment Scorecards provide a structured framework for assessing credit risk, generating credit scores that are designed to broadly align with credit ratings from S&P Global Ratings.^[1]

Our Scorecards enable ESG factors to be considered in credit risk analysis in a transparent and structured way, while working through the regular credit assessment process.

For each of the three ESG dimensions, we first define the ESG credit risk factors, which are the factors that influence the capacity and willingness of an obligor to meet its financial commitments and that can have negative or positive credit impacts.

We then provide guidance on how to integrate these factors into the credit assessment. This analytical process remains mostly evidence-based, qualitative and, accordingly, rules driven.

^{[1] S&P Global Ratings does not contribute to or participate in the creation of credit scores generated by S&P Global Market Intelligence. Lowercase nomenclature is used to differentiate S&P Global Market Intelligence PD credit model scores from the credit ratings issued by S&P Global Ratings.}

Eliminate the time-consuming process of manually inputting financial statement data into your tools with ProSpread, a powerful workflow solution for automatically extracting and spreading data from financial statements. With ProSpread’s Optical Character Recognition technology, your credit risk and analytical teams can:

• Extract the data you need from financial statements in multiple languages, and spread this into the appropriate data fields seamlessly.
• Go beyond data extraction and obtain insights. With our Credit Analytics suite of analytical models, you can score companies with extracted financials, in a matter of minutes.
• Provide an essential audit trail of any changes that have been made to extracted data with the Auditability functionality by clicking through to the source of the financial item.
• Balance financial statements with the Balancing function helping you detect if the data is deficit or overage and apply the provided suggestions.
• Extract and focus on the essential information you need with the Image Carousel that helps you easily extract individual pages from financial statements.

You need the right data to make the right decisions, and you need to get it quickly. With RatingsXpress^®, you’ll receive S&P Global Ratings credit ratings in bulk when you need them most.

Power portfolio and enterprise risk functions, represent your portfolio in public, statutory, and regulatory reports, with access to ratings data through S&P Global Market Intelligence, via third-party datafeeds or desktop platforms.

Through our integrated bulk feed management solution, ratings content is organized into packages defined by issuer sectors and contains issuer-and issue-level details, plus extensive descriptive data for each instrument. Our solution also offers delivery of credit ratings from Moody’s Investor Services, Fitch Ratings, Japan Credit Ratings, and Rating and Investment Information Inc.

Easily tap into the ratings and analysis you need to help make informed financial decisions with CreditWire®, available on the Bloomberg Professional™ platform.

CreditWirekeeps you connected to the fixed-income market and on top of ratings actions as they occur. Comprehensive analysis brings you an understanding of the underlying credit forces and critical trends in the industries you follow.

Our broad coverage provides access to ratings, credit news, summary analyses, research updates, daily ratings screens, and CreditWatch lists for the Global Issuers, Structured Finance, and U.S. Public Finance sectors.