What’s new: In this release, we invite you to use a new and reimagined Chart Builder with improved presentation creation, analytical capability, and application performance. 

Most Relevant For: All Users

Workflow Improvements: 

• With the introduction of Chart Builder (Beta), users can get started quickly, using chart templates functionality and edit a chart easily using technical indicators, series styling customization, and drawing tools.  
• Users can also create custom aggregates within the application to chart a weighted index of companies on a single series. 

What’s new: In this release, we expanded our global economic indicator coverage to include annual, quarterly, and monthly historical macro indicators for 185 countries. These 15 indicators are classified as As-Reported Macro Indicators and updated more frequently.

Most Relevant For: Economic Research

Workflow Improvements:

As Reported, Historical Demographic Data/Macro Indicators

• Users can now access 15 new As Reported Macro Indicators which include Real GDP Growth(%), Real GDP(LCU), Nominal GDP($B), Real GDP($B), Nominal GDP(LCU), Consumer Price Inflation(%), Producer Price Inflation(%), Industrial Production Growth(%), Unemployment Rate(%), Current Account Balance($B), Goods Imports($B), Goods Exports($B), Trade Balance($B), Exchange Rate Average, Exchange Rate End. We also added two new indicators to our Forecasted Series: Real GDP($B) & Nominal GDP(LCU).

What’s new: With this release, users of RatingsDirect® focused on Corporates, will benefit from the integration of Outlook Financial Thresholds, a concise one-page credit memo, and the Credit Default Swap source update to S&P Market Intelligence. U.S. Public Finance users can leverage the new US State Ratings page, while Structured Finance users can access the full collateral universe with the complete list of collateralized issues.

Most Relevant For: Ratings Research

Workflow Improvements:

Outlook Financial Thresholds

• RatingsDirect® users can access Outlook Financial Thresholds on Corporate Profile, Analyst Peers page, Screener, and the S&P Capital IQ Pro Plug-in. Outlook Financial Thresholds are the key metrics and thresholds that can potentially lead to rating actions. With the help of Generative AI, the Outlook Financial Thresholds are extracted from the upside and downside scenarios of research articles for entities in the Corporate sector.

 U.S. Public Finance State Ratings

• RatingsDirect® users interested in U.S. Public Finance can access a new page featuring an interactive map of the United States, displaying credit ratings of each state. The ratings are based on either the state's issuer credit rating or its general obligation debt rating. Users can interact with the map and filter by rating and outlook to gain valuable insights into the current ratings of U.S. states, across different regions of the country.

 Export RatingsDirect Credit Memo

• RatingsDirect® users can export a one-page credit tearsheet for Corporates, Financial Institutions, and Insurance entities directly from the Corporate Profile to get a quick snapshot of an entity's credit health. The credit memo provides an overview of key credit metrics for an entity, such as issuer credit ratings, outlook/upside/downside scenarios, scores & modifiers, outlook financial thresholds, analyst peers, and more.

 Credit Default Swaps and Market Derived Signals Source Update

• RatingsDirect® on Capital IQ Pro is updating the source of Credit Default Swaps (CDS) and market-derived signals to S&P Market Intelligence (Markit) pricing, valuation & reference data from ICE. This update will be reflected on the Corporate Profile, Sector Profile pages, Screener, Dashboard, and the S&P Capital IQ Pro Plug-in. The Corporate Profile now includes a chart that overlays Issuer Credit Ratings, CDS Market-Derived Signal Scores, and Probability of Default Derived Signal Score in one view.
• The migration to S&P Market Intelligence (Markit) sourced CDS and market-derived signal data offers key benefits, including a larger universe of entities with a history dating back to 2010. Additionally, it leverages more composite pricing based on actual CDS pricing, as opposed to evaluated pricing derived from bond spreads. This enhancement ensures users have access to comprehensive and reliable CDS and market-derived signals data for informed decision-making.

 Structured Finance Loans and Bonds

• RatingsDirect® users with Structured Finance capabilities can access the universe of collateralized and uncollateralized S&P-rated corporate loans & bonds to gain visibility into the outstanding loans & bonds market that can be included in existing and future CLOs.

 Security Ratings Distribution

• RatingsDirect® users can access Security Ratings Distribution for unrated entities with rated securities. Even if an entity does not have an issuer level rating, users can easily access the underlying rated debt from the entity profile. Security Ratings Distribution is a calculated aggregate count of securities by Debt Type, Rating Type, Rating, and CreditWatch/Outlook when the available ratings are only at the security level.

What’s new: In this release, we enhanced coverage of power pricing with the introduction of Global Power Pricing data, accessible on the Global Power Prices Summary page, the Global Day-Ahead Power Prices page, and the Global Power Futures page. Additionally, we expanded our Ancillary Pricing Data coverage to include two new regions, NYISO (New York ISO) and MISO (Midcontinent ISO).

Most Relevant For: Energy Research

Workflow Improvements:

• Global Day-Ahead Power Prices: United Kingdom  

• Global Power Futures: Spain, Netherlands, Croatia, Slovakia, Hungary, Poland, Austria, France, Romania, Germany, Greece, Italy, Czech Republic, Switzerland, Bulgaria, Nordic Region, Belgium, United Kingdom, Slovenia, Serbia and Japan 
• Added coverage for NYISO and MISO regions, in addition to the existing CAISO, ERCOT and PJM regions 

What’s new: In this release, we added auto-derived ratios related to Balance Sheet, Income Statement, capital adequacy, and asset quality for both U.S. and global banks. We incorporated Form ADV data from Section 7.A & Section 7.B of Schedule D for all registered investment advisors and exempt filers. Additionally, we added new CDFI Fields and updated Uniform Bank Performance Report (UBPR) fields. Finally, we updated & aligned the Herfindahl-Hirschman Index for Change in Market to 100 within the Branch Analytics Merger Planning/HHI Analysis Application.

Most Relevant For: Bank Regulators, Bank Analysis 

Workflow Improvements:

Bank Fundamentals Derived Ratios

• Users can now access derived ratios related to Balance Sheet, Income Statement, capital adequacy, and asset quality for US and global banks.

Form ADV Schedule D - Section 7a & b

• Users can now access additional disclosure details available from section 7.A of Schedule D where a U.S. asset manager is required to disclose their financial industry affiliations and any related person that provides certain financial services. Additionally, users can access section 7.B of Schedule D, which provides basic information on the size and organizational, operational, and investment characteristics of each private fund that it advises.

Updated Uniform Bank Performance Report (UBPR) fields in Screener

• Users can now access updated fields within UBPR Balance Sheet (P4) sub-category on Screener.

Change in Market Update for Branch-Merger Planning HHI Analysis

• When assessing competition and potential monopolistic behavior within a market, the Change in Market default index is now set to 100 for proforma and current years. This update is in accordance with the new guidelines introduced by the Department of Justice.

What’s new: In this release, we enhanced the U.S. Insurance Statutory offering by adding the most relevant line items on the U.S. Statutory financials, providing comprehensive coverage through our relationship with the NAIC (National Association of Insurance Commissioners), the U.S. regulator for insurance companies. Additionally, we expanded our insurance coverage in North America to include financial data for Canadian insurance companies within Screener. This data is directly sourced from the Canadian regulator OSFI (Office of the Superintendent of Financial Institutions), including the newly adopted IFRS 17 regulatory disclosures by Canadian insurance companies.

 Most Relevant For: Insurance Regulators 

Workflow Improvements:

Lines of Business updates on U.S. Statutory pages

• Users can access updates to Lines of Business which are reflected in the following pages to ensure consistency across Life/Fraternal filings.
  
  
  • Life/Fraternal Financial Highlights
    • • New Lines added under Premiums & Annuity Considerations by Major Segment (%)
  • Life/Fraternal Income Statement
    • • Multiple sections updated with the new line of business
  • Life/Fraternal Underwriting Analysis
    • • New lines added within these sections: Net Premiums, Annuities, and Consid, Benefit Ratio, General Expense Ratio and Net Commission Ratio
  • Life/Fraternal Reserve Analysis
    • • Four new sections added to present the appropriate reserve analysis based on the new lines of business
  • Life/Fraternal Five-Year Historical Data
    • • As per the NAIC statement - 51 new rows added to present the same details as company filings

What’s new: In this release, we introduced Real Estate Market Overview page providing users with a streamlined view of Real Estate data to seamlessly access critical market insights. We also added Net Operating Income (NOI) financial data, specifically for US REITs, empowering users to make more informed decisions.

Most Relevant For: All Users

Workflow Improvements:

 U.S. Real Estate Market Overview

• Users can now access real estate and related datasets with the addition of the Real Estate Market Overview page.

 Net Operating Income for REITs

• Users can view net operating income (NOI) for US REITs on the financial highlights page in Capital IQ Pro platform.

What’s new: In this release, users will experience a new top menu on the S&P Capital IQ Pro platform that can be customized for a personalized navigation experience, ensuring that the most vital information for your workflow is easily accessible. We enhanced the layout of top menu icons focusing on Saved Items, User profiles, Alerts, and Help. Additionally, we revamped the organization of links and options within these menus to optimize overall user experience.  

Most Relevant For: All users

Workflow Improvements:  

• Users can now select the content and capabilities in the top menu to personalize their navigation experience in the S&P Capital IQ Pro platform. This will enable quick and easy access to relevant and tailored content that aligns to their workflow. While the default navigation aligns with a user’s industry focus, the top menu display can be modified to accommodate individual preferences. 
• We have updated menu icons for Saved Items, User Profiles, Alerts, and Help located in the top right corner of the Capital IQ Pro platform

What’s new: In this release, we invite you to use a new and reimagined Chart Builder with improved presentation creation, analytical capability, and application performance.  

Most Relevant For: All Users

Workflow Improvements: 

• With the introduction of Chart Builder (Beta), users can get started quickly, using chart templates functionality and edit a chart easily using technical indicators, series styling customization, and drawing tools.  
• Users can also create custom aggregates within the application to chart a weighted index of companies on a single series. 

What’s new: In this release, users can set alerts for Nikkei News, a comprehensive source for business activity coverage of Asia-Pacific and global financial markets.  

Most Relevant For: All Users 

Workflow Improvements: 

• Users can set up alerts for Nikkei News, Japan’s largest business news source, which provides news and analysis on regional and global business trends. 

What’s new: In this release, we added a new metric, the total number of keyword mentions within the Filings filter, on the search results page. This provides the ability to view the number of keyword matches within a selected group of Filings to help users determine which document is of higher relevance for their research. Additional enhancements to search include pricing data availability in the search bar dropdown, improved relevancy, ability to search across data fields, along with topic tags search in company screener queries, and local language search in Chinese (PRC), Japanese and Korean languages.  

Most Relevant For: All Users 

Workflow Improvements: 

• Users can see the total number of keyword matches for Filings in search results page to help them determine if a document is relevant to their research. 

What’s new: In this release, we added a new Advisory & Underwriting Summary page for users to see the clients of financial and legal advisers in M&A and capital raising deals. Additionally, we added new options to group transactions screener results based on CIQ/GICS Industry, Geography, and Sector (MI).  

Most Relevant For: All Users 

Workflow Improvements: 

• The new summary page will enable users to see the top clients of financial institutions and law firms in M&A and capital raising deals.  
• Users can drill into geographic and industry breakdowns as well as the advised transactions of the financial and legal advisers.  
• Additionally, users can filter the data by buy-side or sell-side advisory, industry, geography, client size, transaction value, etc. and click-through from charts to raw data. 
• Users can group transactions from their screening results using industry and various geographical metrics. 

What’s new: In this release, we expanded coverage to include key macroeconomic indicators for smaller economies offering insights into economic trends and business conditions.  

Most Relevant For: Economic Research 

Workflow Improvements: 

• We enhanced our coverage of key macroeconomic indicators for Bangladesh, Brunei, Burundi, Cameroon, Fiji, Guam, Guatemala, Kenya, Macau, Micronesia, Mozambique, Myanmar, Nicaragua, Nigeria, Palestine, Papua New Guinea, Paraguay, Qatar, Senegal, Solomon Islands, Tonga, Tuvalu and Vanuatu. 
• The economic indicators for these economies include Producer Price Inflation, Producer Price Index, Public Debt/GDP, Public Debt (LCU), Budget Revenue (LCU), Budget Expenditure/GDP, Budget Balance/GDP, Industrial Production Growth, Labor Productivity Growth, Labor force, Unemployment rate, Interest Payments and Debt Interest Payment/GDP. 

What’s new: In this release, we enhanced user workflows across sectors. Analysts focused on sovereign credit now have access to unique peers’ comparison views for countries based on Banking Industry & Country Risk Assessments (BICRA). Structured Finance users will benefit from the new CLO Market Overview and CLO Insights, providing detailed analysis of Collateralized Loan Obligations (CLO). Additionally, all RatingsDirect users will have improved usability in platform with Quick Alerts and Subsidiary Alerts for real-time rating actions. Furthermore, we introduced Outlook, Upside & Downside Scenario selections in Screener and S&P Capital IQ Pro plug-in.  

Most Relevant For: Ratings Research

Workflow Improvements:  

• RatingsDirect® users interested in sovereign data can now access S&P Global Ratings’ analyst-defined peers, determined based on Banking Industry & Country Risk Assessments (BICRA), via the Analyst Peers. This feature enables users to compare a comprehensive list of key metrics across similar sovereigns, including credit ratings, sovereign factors, BICRA assessments, risk metrics, and economic conditions. 
• RatingsDirect® users with Structured Finance capabilities will gain access to the CLO Market Overview page, providing a customizable view into the volume of new Collateralized Loan Obligation (CLO) issuances rated by S&P Ratings. 
• Users can visualize the breakdown of issuances by portfolio type and geography, gaining insights into market dynamics. Additionally, users can analyze rated deals and tranches, with flexibility to use various parameters to visually demonstrate the value and count of rated deals across different timeframes.  
• At the tranche level, users can track CLO credit rating actions over time, displaying an aggregate chart of CLO rating actions. 
• Users interested specifically in U.S. Collateralized Loan Obligations (CLO) deals can access a new page with an interactive focus on Credit & OC Cushion metrics for Broadly Syndicated and Middle Market category of deals. 
• Users can filter entities based on keywords found in Outlook, Downside Scenario, and Upside Scenario text. They can also access the latest values through S&P Capital IQ Pro plug-in, streamlining their workflow. 

What’s new: In this release, we added All Filings view option for reporting basis on the Templated Financials pages for ease of data comparison. We also inserted CIQ absolute date functions in the S&P Capital IQ Pro plug-in to aid in model building and placed a link to the S&P Capital IQ Financials Glossary in the Apps menu for ease of discoverability. 

Most Relevant For: Company Research 

Workflow Improvements:  

• Users now can see all the reporting basis types for each period end on the Templated Financials pages for the S&P Capital IQ sourced financials. 
• Users can now utilize the CIQ Absolute Date functions in the S&P Capital IQ Pro plug-in 
• Users can access S&P Capital IQ financials glossary from an additional location in the Apps menu which provides extended definitions for Capital IQ sourced financial data items 
  

What’s new: In this release, we added the ability to create a custom consensus, enhanced click-through for detailed estimates, and added detailed estimates for commodity price targets in S&P Capital IQ Pro plug-in.  

Most Relevant For: Estimates Research 

Workflow Improvements: 

• Users can refine the consensus calculations on the Consensus page by applying a custom date window or by removing specific brokers. For example, users can view a custom consensus that excludes revisions older than a specific date or number of days. 
• Users can now access investment research where the detailed estimates are sourced through a direct click-through capability from the metric to the underlying components in the research document. 
• Users can pull the individual contributor price target estimates for commodities in S&P Capital IQ Pro plug-in, along with the broker and analyst names, to enhance their models with more granular data and to highlight specific contributor estimates. 

What’s new: In this release, we enhanced the Screener experience with the introduction of a new Screener Home and Screener Menu. Screener Home, previously titled Screening & Analytics, is reorganized to promote key workflow datasets, while improving the discoverability of other unique Screener datasets. The new Screener menu presents users with the datasets that best align to their preferred industries. 

Most Relevant For: All Users 

Workflow Improvements:  

• In Screener Home, users can explore the complete list of Screener datasets, quickly reopen their recently saved or modified screens, and browse a selection of popular Idea Generation screens. 
• Users can now view a new Screener Menu featuring datasets that best align to their preferred industries. 

What’s new: In this release, we enhanced the Report Preview page workflow by integrating the download and print action buttons within the grid, streamlining access to research reports. This update aligns with the improved design of our Research page, ensuring that download and print options are prominently visible and easily actionable for users. 

Most Relevant For: All Users 

Workflow Improvements:  

• Users can download and print Investment Research reports directly from the Report Preview page using action buttons located above the search grid, enhancing the overall user experience.

What’s new: In this release, we added new maturity fields related to bank deposits and debt details for US GAAP and Global banks. In addition, we added section 5 from Schedule D of the Investment Advisory Details report in accordance with the new additions of the SEC's Form ADV. We also enhanced Peer reports tailored for Credit Unions and updated Credit Union Regulatory Financial Summary pages with latest line-items sourced from 5300 call reports. Furthermore, we introduced new Adjusted Tangible Common Equity fields helping users analyze liquidity crunch and other derived bank regulatory fields.  

Most Relevant For: Banking Regulators 

Workflow Improvements:  

• Users can access new maturity fields related to bank deposits and debt details for US GAAP and Global banks on the platform including Screener. 
• Users can now access additional disclosure details of Separately Managed Accounts (SMAs) custodians by referring to the newly added Section 5.K.3 Custodians of Separately Managed Accounts and Section 1.F Other Offices from Form ADV in Screener. SMAs are a portfolio of assets managed by a professional investment firm of which vast majority of firms are RIA - Registered Investment Advisors who are required to disclose various details on their SMAs and their custodians to the SEC. 
• Users can access updated Credit Union Regulatory Summary Financial pages on the S&P Capital IQ Pro platform with the latest 5300 Call Report fields across Financial Highlights, Balance Sheet, Income Statement and Asset Quality pages. 
• Users can now access the newly created field for Tangible Common Equity adjusted for credit and new derived ratios for Banks and Bank Holding Companies. 

What’s new: In this release, we added a new price series for Lithium in the commodity price chart. In addition, we added Appendix 5B Cash Flow and Reserves & Resources ratios in Companies Screener and S&P Capital IQ Pro plug-in, along with the newly launched Annual Mine Production Summary in Excel Template Library. 

Most Relevant For: Metals and Mining Research 

Workflow improvements: 

• Industry Financials and Reserves & Resources Ratios 
• Users can access Appendix 5B Cash Flow financials and Reserves & Resources ratios of Mining companies in Companies Screener and S&P Capital IQ Pro Plug-in. The addition of these industry metrics will localize the user's workflow in a single dataset within Screener and help with the understanding of the granularity of mining companies’ financial performance.