S&P Global Stock Price, News & Analysis

The S&P/Experian Consumer Credit Default Indices data for July 2020 indicates that the composite default rate remains stable at 0.66%. The default rate for bank cards decreased by 37 basis points to 3.86%, while auto loans increased by 7 basis points to 0.47%. First mortgage defaults rose 3 basis points to 0.44%. Notably, Miami reported the highest default increase of 43 basis points, reaching 1.83%, while Dallas and Chicago experienced slight decreases. These indices are crucial for understanding consumer credit trends.

S&P Global (NYSE: SPGI) announced the expiration of its cash tender offer for outstanding Senior Notes on August 14, 2020. The offer was for three series of notes, totaling $900 million for the 2026 Notes, $297 million for the 2037 Notes, and $500 million for the 2048 Notes. Valid tenders included $228.39 million of 2026 Notes (25.38%), $3.84 million of 2037 Notes (1.29%), and $217.18 million of 2048 Notes (43.44%). Payment for purchased notes is scheduled for August 17, 2020.

S&P Global Platts has launched the first Sustainable Aviation Fuel (SAF) price assessment in Europe, effective August 17, 2020. This initiative aims to enhance market transparency as the aviation sector shifts towards cleaner energy solutions amid pressures from decarbonization goals. The daily price assessment reflects costs associated with SAF produced from used cooking oil. The aviation industry accounted for over 6% of Europe’s energy CO2 emissions in 2019, and the new pricing model intends to facilitate comparisons between traditional jet fuel and SAF costs. This launch follows extensive consultations with industry stakeholders.

S&P Global (NYSE: SPGI) has priced its cash tender offer for all outstanding 4.400% Senior Notes due 2026, 6.550% Senior Notes due 2037, and 4.500% Senior Notes due 2048. The offer is expiring on August 14, 2020, at 5:00 p.m. ET. Eligible holders who validly tender their notes will receive a Tender Offer Consideration plus accrued interest until the Settlement Date, which is expected on August 17, 2020. The company plans to close a new offering of senior notes ahead of this date, subject to certain conditions. The tender process is managed by D.F. King & Co., with Goldman Sachs and Morgan Stanley as dealer managers.

The S&P Global Market Intelligence report highlights a significant decline in U.S. multichannel subscriptions, with a loss of 2.2 million customers in Q2 2020, totaling over 4.2 million in the first half of the year. Traditional services saw an 8.9% annual decline, while virtual services added over 850,000 subscriptions. As of the end of Q2, 87.1 million customers had multichannel subscriptions, indicating a drop in penetration below 60% for traditional services and 67.3% for combined services. The satellite segment led declines, notably at DIRECTV and AT&T.

S&P Global (NYSE: SPGI) announced its plan to redeem all outstanding 4.400% Senior Notes due 2026 following the anticipated closing of its sale of senior notes. The redemption, set for September 12, 2020, will include a make-whole premium plus accrued interest. A tender offer for the 2026 Notes expires on August 14, 2020. The company cautioned that forward-looking statements in the release are subject to risks and uncertainties that could impact actual results, advising caution in reliance on such statements.

The COVID-19 pandemic significantly accelerated digital trends in China, according to Kagan's 2020 Asia Consumer Insights Survey. Conducted in June, the survey showed that 67% of adults increased live TV viewing and 56% watched more OTT video. Social media usage surged, with 66% reporting increased time spent. E-commerce also grew, with 66% shopping online more frequently. Interest in 5G replacement for home internet reached 93%, highlighting a shift towards digital transformation as S&P Global (SPGI) aligns its strategies to meet growing customer expectations.