Disclosures
Click on a jurisdiction on the left to view the items of information about S&P
Global Ratings required to be disclosed in that jurisdiction.
Due to a technical issue, some portions of text in certain S&P Global Ratings publications may not have displayed on our public website (spglobal.com) when accessed between April 9, 2021 and October 11, 2024, including Criteria, Requests for Comment on Criteria, rating action publications, and bulletins. For additional information click here. Note that any comments pertaining to in-use or proposed Criteria should be submitted via the Ratings Criteria and Models Page, located here.
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").
S&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
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.
Ratings Methodologies and Assumptions
Criteria Requests for Comments
Requests for Comment Responses
Information on the
criteria which S&P Global Ratings in Australia uses in its credit rating
activities.
Table of Contents: S&P Global Ratings' – Ratings Criteria
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in Australia.
S&P Global Ratings' Product
Descriptions
Potential Conflicts of Interest
Information on potential conflicts of interest at S&P Global Ratings in Australia
S&P Global Ratings' Conflicts of
Interest
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in Australia.
Proportion of Compensation Received from
Clients Unrelated to Ratings Services Versus Total Fees
Code of Conduct
S&P Global Ratings Code of
Conduct-Australia
S&P Global Ratings Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in Australia.
Withdrawal, Discontinuance and Suspension
Policy
Issuer Notification (including Issuer
Appeals)
Unsolicited Ratings Policies
Withdrawal, Discontinuance and Suspension
Policy
Other Disclosures
Australia Rated Entities or Related Third
Parties Accounting for 10% or More of Total Annual Revenue
Credit Ratings Performance Measurement Statistics
Credit rating performance measurement statistics are disclosed in Exhibit 1 of United States Securities and Exchange Commission Form NRSRO.
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.
Ratings Methodologies, Models, and Assumptions
Information on the models and criteria which S&P Global Ratings in Canada uses in its credit rating activities.
Table of Contents: S&P Global Ratings' Credit Ratings Models
Table of Contents: S&P Global Ratings' – Ratings Criteria
Structured Finance Disclosure Site
Information about certain structured finance products submitted to S&P Global Ratings Canada for initial review or for preliminary rating.
Regulatory Disclosures for Canada Structured Finance Ratings
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in Canada.
S&P Global Ratings' Product
Descriptions
Potential Conflicts of Interest
Information on potential conflicts of interest at S&P Global Ratings in Canada.
S&P Global Ratings' Conflicts of
Interest
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in Canada.
Code of Conduct
S&P Global Ratings Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in Canada.
Withdrawal, Discontinuance and Suspension
Policy
Issuer Notification (including Issuer
Appeals)
Unsolicited Ratings Policies
Withdrawal, Discontinuance and Suspension
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.
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 CRA Regulation”). Under the CRA Regulation and related legislation, credit ratings issued or endorsed by ESMA-registered CRAs may be usable in the European Union (“EU”) for certain regulatory purposes.
SPGRE has been authorized by ESMA to provide services as an external reviewer of European Green Bonds (“External Reviewer”) during the transition period that started on 21 December 2024 as per Article 69 of the Regulation (EU) 2023/2631 (“the EU Green Bond Regulation” or “EUGBR”). Click here for a listing of documents addressing applicable requirements of the EUGBR concerning External Reviewers during the transition period ending on 21 June 2026 as laid out in Article 69.2 of EUGBR.
The documents listed below fulfill regulatory commitments in support of enhancing transparency of S&P Global Ratings' CRA business operations in the EU.
Endorsement of Credit Ratings
Ratings Methodologies, Models, and Assumptions
Criteria Requests for Comments
Requests for Comment Responses
Information on the models and criteria which S&P Global Ratings in the EU
uses in its credit rating activities.
Table of Contents: S&P Global Ratings' Credit Ratings Models
Table of Contents: S&P Global Ratings' – Ratings Criteria
Calendar of Publication Dates for Sovereign, Regional & Local Government Ratings
This calendar sets out dates for the publication of credit rating actions on sovereign ratings and related rating outlooks. S&P Global Ratings has nominated two or three 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 such 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.
Calendar of Publication Dates For Sovereign,
Regional & Local Government Ratings
Initial Reviews and Preliminary Ratings Disclosure List
Information about certain entities or debt instruments submitted to S&P Global Ratings Europe Limited for initial review or preliminary rating.
Initial Reviews and Preliminary Ratings
Disclosure List
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in the EU.
S&P Global Ratings' Product
Descriptions
Potential Conflicts of Interest
Information regarding potential conflicts of interest at S&P Global Ratings in the EU.
S&P Global Ratings' Conflicts of
Interest
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in the EU.
Code of Conduct
S&P Global Ratings Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in the EU.
Withdrawal, Discontinuance and Suspension
Policy
Issuer Notification (including Issuer
Appeals)
Unsolicited Ratings Policies
Withdrawal, Discontinuance and Suspension
Policy
Transparency Report
2024 EU Transparency Report March 2025
2023 EU Transparency Report March 2024
2022 EU Transparency Report March 2023
2021 EU Transparency Report March 2022
2020 EU Transparency Report March 2021
Shareholders and Directorships
Other Disclosures
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
Incorporating ESG Factors into its Credit Ratings
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.
Ratings Methodologies and Assumptions
Information on the criteria which S&P Global Ratings in Hong Kong uses in its credit rating activities.
Table of Contents: S&P Global Ratings' – Ratings Criteria
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in Hong Kong.
S&P Global Ratings' Product
Descriptions
Potential Conflicts of Interest
Information regarding potential conflicts of interest at S&P Global Ratings in Hong Kong.
Potential
Conflicts of Interest
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in Hong Kong.
Proportion
of
Compensation Received from Clients Unrelated to Ratings Services Versus Total
Fees
Complaints Handling
Hong Kong
Complaints Handling Process
Code of Conduct
S&P
Global
Ratings Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in Hong Kong.
Withdrawal,
Discontinuance and Suspension Policy
Issuer
Notification (including Issuer Appeals)
Unsolicited Ratings Policies
Withdrawal,
Discontinuance and Suspension Policy
Annual Disclosures
Hong Kong
Annual
Transparency Report
Other Disclosures
Hong Kong
Rated
Entities or Related Third Parties Accounting for 5% or More of Total Annual
Revenue
Credit Ratings Performance Measurement Statistics
Credit rating performance measurement statistics are disclosed in Exhibit 1 of United States Securities and Exchange Commission Form NRSRO.
- ENGLISH
S&P Global Ratings conducts its credit rating activities in the Kingdom of Saudi Arabia (“the Kingdom”) through S&P Global Ratings Europe Ltd (“SPGRE”), an Irish company, and in particular through its branch established in the Kingdom which is licensed by the Capital Market Authority as of 24 August 2017.
In accordance with our Surveillance Policy, all outstanding credit ratings issued by SPGRE are subject to ongoing and at least annual review.
The documents listed below fulfill regulatory commitments in support of enhancing transparency of S&P Global Ratings' business operations in the Kingdom.
RATINGS METHODOLOGIES, MODELS AND ASSUMPTIONS
Information on the models and criteria which S&P Global Ratings in the Kingdom of Saudi Arabia uses in its credit rating activities.
Table of Contents: S&P Global Ratings' Credit Ratings Models
Table of Contents: S&P Global Ratings' – Ratings Criteria
ANCILLARY SERVICES
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in the Kingdom of Saudi Arabia.
S&P
Global Ratings' Product DescriptionsPOTENTIAL CONFLICTS OF INTEREST
Information regarding potential conflicts of interest at S&P Global Ratings in the Kingdom of Saudi Arabia.
Potential
Conflicts of InterestCOMPENSATION ARRANGEMENTS
Information on compensation arrangements of S&P Global Ratings in the Kingdom of Saudi Arabia.
CODE OF CONDUCT
S&P
Global Ratings Code of ConductRATING PUBLICATION POLICIES
The following Policies address publication of Credit Ratings by S&P Global Ratings in the Kingdom of Saudi Arabia.
Withdrawal,
Discontinuance and Suspension PolicyIssuer
Notification (including Issuer Appeals)UNSOLICITED RATINGS POLICIES
Withdrawal,
Discontinuance and Suspension PolicyTransparency Report
2024
Kingdom of Saudi Arabia Transparency Report - May 20252023
Kingdom of Saudi Arabia Transparency Report - May 20242022
Kingdom of Saudi Arabia Transparency Report - May 20232021
Kingdom of Saudi Arabia Transparency Report - May 20222020
Kingdom of Saudi Arabia Transparency Report - May 2021CREDIT RATINGS PERFORMANCE MEASUREMENT STATISTICS
Credit
Ratings Performance Measurement StatisticsOTHER DISCLOSURES
- ARABIC
تزاول وكالة «إس آند بي جلوبال للتصنيفات الائتمانية» أنشطة التصنيف الائتماني في المملكة العربية السعودية ("المملكة") من خلال شركة «إس آند بي جلوبال ريتنجز يوروب ليمتد» - شركة إيرلندية – وبالتحديد من خلال فرعها القائم في المملكة والمرخص من قبل هيئة السوق المالية منذ 24 أغسطس 2017.
وفقاً لسياسة المراقبة لدينا، تخضع جميع التصنيفات الائتمانية الحالية الصادرة عن شركة «إس آند بي جلوبال ريتنجز يوروب ليمتد» لمراجعة مستمرة وسنوية على الأقل.
تفي المستندات التالية بالالتزامات التنظيمية بغرض دعم تحسين شفافية الأعمال لدى وكالة «إس آند بي جلوبال للتصنيفات الائتمانية» في المملكة.
الإفصاحات التنظيمية للمملكة العربية السعودية
للاطلاع على الإفصاحات التنظيمية الرجاء الضغط هنا
منهجيات ونماذج وفرضيات التصنيفات الائتمانية
معلومات حول المعايير التي تستخدمها وكالة إس آند بي جلوبال للتصنيفات الإئتمانية في المملكة العربية السعودية لممارسه نشاطها للتصنيفات
الإئتمانية
كيف
نُصنِّف كيانات الشركات غير الماليةيمكن الاطلاع على النماذج باللغة الإنجليزية من خلال الضغط هنا .
النشاطات المساندة
معلومات حول النشاطات المساندة والخدمات الأخرى التي قد تقوم وكالة إس آند بي جلوبال للتصنيفات الإئتمانية في المملكة
العربية السعودية
تفاصيل
منتجات وكالة إس آند بي جلوبال للتصنيفات
الإئتمانيةالتضارب 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
قواعد
السلوك لدى وكالة إس آند بي جلوبال للتصنيفات الإئتمانيةسياسات نشر التصنيفات الائتمانية
تتناول السياسات التالية الآلية المتبعة لدى وكالة إس آند بي جلوبال للتصنيفات الائتمانية لنشر التصنيفات الائتمانية في المملكة العربية السعودية
إخطار
المُصدر (بما في ذلك استئناف المُصدر)سياسة التصنيفات غير المطلوبة
سحب،
وإيقاف، وتعليق التصنيفات الائتمانيةتقارير الشفافية
تقرير
الشفافية السنوي للمملكة العربية السعودية لعام 2024 –
نشر في مايو 2025تقرير
الشفافية السنوي للمملكة العربية السعودية لعام 2023 –
نشر في مايو 2024تقرير
الشفافية السنوي للمملكة العربية السعودية لعام 2022 –
نشر في مايو 2023تقرير
الشفافية السنوي للمملكة العربية السعودية لعام 2021 –
نشر في مايو 2022تقرير
الشفافية السنوي للمملكة العربية السعودية لعام 2020 –
نشر في مايو 2021إحصائيات قياس أداء التصنيفات الائتمانية
ملحق
منظمة التصنيف الإحصائي المعترف بها وطنياًإفصاحات أخرى
Ratings Methodologies and Assumptions
Information on the criteria which S&P Global Ratings in Singapore uses in its credit rating activities.
Table of Contents: S&P Global Ratings' – Ratings Criteria
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in Singapore.
S&P
Global
Ratings' Product Descriptions
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.
Proportion
of
Compensation Received from Clients Unrelated to Ratings Services Versus Total
Fees
Complaints Handling
Singapore
Complaints Handling Process
Code of Conduct
S&P
Global
Ratings Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in Singapore.
Withdrawal,
Discontinuance and Suspension Policy
Issuer
Notification (including Issuer Appeals)
Unsolicited Ratings Policies
Withdrawal,
Discontinuance and Suspension Policy
Annual Disclosures
Singapore
Annual
Transparency Report
Other Disclosures
Singapore
Rated
Entity or Related Third Parties Accounting for 5% or More of Total Annual
Revenue
Credit Ratings Performance Measurement Statistics
Credit rating performance measurement statistics are disclosed in Exhibit 1 of United States Securities and Exchange Commission Form NRSRO.
S&P Global Ratings conducts its credit rating activities in South Africa through S&P Global Ratings Europe Ltd (“SPGRE”), an Irish company, and in particular through its branch established in South Africa which is licensed by the Financial Sector Conduct Authority as of 6 May 2014 (license number FSCA-CRA005) in terms of section 5 of the Credit Rating Services Act, 2012 (Act No. 24 of 2012).
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 documents listed below fulfill regulatory commitments in support of enhancing transparency of S&P Global Ratings' business operations in South Africa.
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.
Table of Contents: S&P Global Ratings' Credit Ratings Models
Table of Contents: S&P Global Ratings' – Ratings Criteria
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P Global Ratings in South Africa.
S&P
Global
Ratings' Product Descriptions
Potential Conflicts of Interest
Information regarding potential conflicts of interest at S&P Global Ratings in South Africa.
Potential
Conflicts of Interest
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings in South Africa.
Code of Conduct
S&P
Global
Ratings Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global Ratings in South Africa.
Withdrawal,
Discontinuance and Suspension Policy
Issuer
Notification (including Issuer Appeals)
Unsolicited Ratings Policies
Withdrawal,
Discontinuance and Suspension Policy
Annual Report
2024 South
Africa
Annual Report June 2025
2023 South
Africa
Annual Report June 2024
2022 South
Africa
Annual Report June 2023
2021 South
Africa
Annual Report June 2022
2020 South
Africa
Annual Report June 2021
2019 South
Africa
Annual Report June 2020
Credit Ratings Performance Measurement Statistics
Credit rating performance measurement statistics are disclosed in Exhibit 1 of United States Securities and Exchange Commission Form NRSRO.
Other Disclosures
S&P Global Ratings UK Limited (“SPGRUK”), is registered with the Financial Conduct Authority (“FCA”) as a credit rating agency (“CRA”) under the Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019 (“the CRA Regulation”). Under the CRA Regulation and related legislation, credit ratings issued or endorsed by FCA-registered CRAs may be usable in the United Kingdom (“UK”) for certain regulatory purposes.
The documents listed below fulfill regulatory commitments in support of
enhancing transparency of S&P Global Ratings' business operations in the UK.
Endorsement of Credit Ratings
Ratings Methodologies, Models, and Assumptions
Criteria Requests for Comments
Requests for Comment Responses
Information on the models and criteria which S&P Global Ratings uses
in its credit rating activities.
Table of Contents: S&P Global Ratings' Credit Ratings Models
Table of Contents: S&P Global Ratings' – Ratings Criteria
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 or three 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.
Calendar
of
Publication Dates For Sovereign, Regional & Local Government Ratings
Preliminary Ratings Disclosure List
Information about certain entities or debt instruments submitted to S&P Global Ratings for initial review or preliminary rating.
Preliminary Ratings Disclosure List for
Ratings
Ancillary Services
Information on Ancillary and Other Services that may be provided by S&P
Global Ratings.
S&P
Global
Ratings' Product Descriptions
Potential Conflicts of Interest
Information regarding potential conflicts of interest at S&P Global
Ratings.
S&P
Global
Ratings' Conflicts of Interest
Compensation Arrangements
Information on compensation arrangements of S&P Global Ratings.
Code of Conduct
S&P
Global
Ratings Code of Conduct
Rating Publication Policies
The following Policies address publication of Credit Ratings by S&P Global
Ratings.
Withdrawal,
Discontinuance and Suspension Policy
Issuer
Notification (including Issuer Appeals)
Unsolicited Ratings Policies
Withdrawal,
Discontinuance and Suspension Policy
Transparency Report
2024 UK Transparency Report March 2025
2023 UK Transparency Report March 2024
2022 UK Transparency Report March 2023
2021 UK Transparency Report March 2022
Shareholders and Directorships
Other Disclosures
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 Incorporating ESG Factors into its Credit Ratings