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Issuer Credit Ratings

An Issuer Credit Rating is our forward-looking opinion about an obligor's overall creditworthiness.

Issuer Credit Ratings


  • 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.

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  • Deliverables
  • Distribution
  • Preliminary Ratings
  • Corporate Credit Ratings
  • U.S. Public Finance
  • Guide to Credit Rating Essentials
  • S&P Global Ratings Criteria
  • S&P Global Ratings Definitions
  • Long-term Issuer Credit Ratings assigned on our globally recognized 'AAA' through 'D' - rating scale.
  • Short-term Issuer Credit Ratings assigned on our 'A-1' through 'D' rating scale.
  • Accompanied by a full ratings analysis based on our ratings scale and methodology, including ongoing surveillance.
  • Counterparty Credit Ratings, Corporate Credit Ratings and Sovereign Credit Ratings are all forms of Issuer Credit Ratings. Issuer Credit Ratings can be either long-term or short-term.
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, with the 'prelim' suffix, may be assigned to obligors or obligations, 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 Ratings: 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.

US Public Finance Ratings: 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.
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.
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.
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.