S&P Global
S&P Global Inc. is an American publicly traded corporation headquartered in Manhattan, New York City. Its primary areas of business are financial information and analytics. It is the parent company of S&P Global Ratings, S&P Global Market Intelligence, S&P Global Mobility, S&P Global Engineering Solutions, S&P Global Sustainable1, and S&P Global Commodity Insights, CRISIL, and is the majority owner of the S&P Dow Jones Indices joint venture. "S&P" is a shortening of "Standard and Poor's".
Some of the key events about S&P Global
- 1860Founded as a financial publishing house in New York City
- 1941Acquired Poor's Publishing, forming Standard & Poor's
- 1966Launched the S&P 500 index, a key benchmark for the U.S. stock market
- 1975Faced criticism for rating New York City bonds as investment grade shortly before the city's financial crisis
- 1984Introduced the first municipal bond rating service
- 2001Downgraded Enron's credit rating only days before the company's collapse, raising questions about rating timeliness
- 2008Criticized for giving high ratings to mortgage-backed securities that later defaulted during the financial crisis
- 2011Launched the S&P Global Clean Energy Index
- 2011Downgraded U.S. credit rating from AAA to AA+, causing global market turmoil
- 2012Acquired Platts, a leading provider of energy and commodities information
- 2013Accused by the U.S. Department of Justice of fraudulently inflating ratings of mortgage investments
- 2015Paid $1.5 billion to settle lawsuits related to inflated ratings during the 2008 financial crisis
- 2016Rebranded as S&P Global to reflect its broader scope of services
- 2016Fined $35 million by the SEC for alleged conflicts of interest in commercial mortgage-backed securities ratings
- 2017Downgraded China's credit rating, sparking criticism from Chinese officials
- 2018Introduced ESG (Environmental, Social, and Governance) scores for companies
- 2018Barred from rating certain commercial mortgage bonds for alleged violations of industry standards
- 2020Launched the S&P 500 ESG Index
- 2021Agreed to pay $2.5 million penalty to settle SEC charges over CMBS ratings
- 2022Completed merger with IHS Markit, expanding its data and analytics capabilities
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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