S&P Global Inc. reports company news across data, benchmarks and analytics for capital, commodity and automotive markets. Coverage includes its credit ratings and market intelligence businesses, S&P Global Energy and Platts price assessments, and S&P Global Mobility products such as CARFAX vehicle history reports, listings, car care tools and recall data.
Recurring updates also include investor conference appearances, product and data launches, board and governance changes, and corporate-status developments involving the Mobility division.
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S&P Global Ratings announced that Yorkshire Building Society's (YBS) Social Bond Framework is fully aligned with the Social Bond Principles (SBP). The framework commits to using proceeds for eligible social projects focused on socioeconomic advancement and access to essential services. It includes a social bond working group for project selection and exclusion criteria. YBS will track and report proceeds allocated to these projects, along with their social impacts. This alignment opinion does not constitute a credit rating, as it only evaluates the financing framework based on the SBP.
S&P Global (NYSE: SPGI) announced that approximately 99% of its shareholders voted in favor of the merger with IHS Markit (NYSE: INFO) during a special meeting. This approval marks a significant milestone for the combination of the two firms, expected to enhance strengths in data science and research. Both companies aim to complete the merger by the second half of 2021, pending regulatory approvals and customary conditions. CEO Douglas Peterson expressed confidence in driving growth and creating value for stakeholders through this strategic initiative.
S&P Global Ratings reported that despite a record global debt-to-GDP ratio of 267%, a debt crisis is unlikely in the near term. The projected global debt will decline to 258% by year-end 2021. The recovery hinges on successful vaccine rollouts and spending adjustments, with real GDP growth forecasted at 5% for 2021. However, elevated debt levels may lead to higher default risks, with speculative-grade defaults predicted to rise to 7% in the U.S. and 6.5% in Europe by year-end. Interest rates are expected to normalize as the recovery progresses.
S&P Global Platts announced further consultation on the transition of the Dated Brent benchmark following extensive industry feedback. Originally set to reflect WTI Midland, changes to the core Dated Brent assessments, including Cash BFOE, have been deferred, maintaining their FOB basis. Platts will focus on incorporating WTI Midland into the CIF Dated Brent assessment for July 2022 deliveries. Additionally, an industry working group will form to consult on the revised terms reflecting WTI Midland's inclusion, ensuring ongoing connectivity between Dated Brent and Cash BFOE.
S&P Global Ratings reports that transition finance could generate up to $1 trillion annually, facilitating capital for hard-to-abate sectors previously absent from sustainable debt markets. The report highlights the growing investor interest in financing climate initiatives to achieve net-zero goals. It emphasizes the need for significant investments in innovative technologies and processes to decarbonize high-carbon industries. Transition finance is expected to expand across various financial products, supporting companies that demonstrate effective climate strategies.
S&P Global (NYSE: SPGI) announced a virtual Special Meeting of Shareholders slated for 10:00 a.m. ET on March 11, 2021, concerning its proposed merger with IHS Markit. This decision was driven by ongoing public health concerns, causing the cancellation of an in-person meeting. Shareholders received proxy materials on how to access the meeting and vote. The meeting can be accessed online, with an archived replay available for one year. For more details, visit the Company's Investor Relations website.
In 2020, traditional U.S. multichannel video subscriptions fell by nearly 7.2 million, as reported by Kagan, part of S&P Global Market Intelligence. While virtual multichannel services gained 2.7 million subscribers, this was not enough to counterbalance the losses from cable, telco, and satellite providers, which slowed in Q4 to 1.5 million. The report indicates 6.8 million households cut the cord in 2020, with total penetration of live-channel packages dropping below 67%, and less than 57% of U.S. households now holding traditional multichannel subscriptions.
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S&P Global Ratings confirmed that King's College London (KCL) has a Sustainable Financing Framework fully aligned with the Green Bond Principles, Social Bond Principles, and Green Loan Principles. This alignment indicates KCL's commitment to utilize proceeds for eligible green and social projects. The framework includes a process for project selection and management of proceeds, ensuring sustainable asset values exceed raised funds. KCL aims for significant sustainability targets by 2029, including net-zero carbon emissions by 2025. The alignment opinions are not credit ratings and reflect current adherence to established principles.