LONDON - S&P Global Market Intelligence has unveiled an expanded Evaluated Loan Pricing service, which now encompasses over 8,000 leveraged loans worldwide. This enhancement is designed to provide market participants with greater transparency and independent pricing, aimed at supporting trading, valuations, and risk management.
The new service extends the existing composite-based pricing offerings by delivering a single pricing point for each loan, whether composite or evaluated. According to Tasha Gonska, Managing Director at S&P Global Market Intelligence, the solution addresses a previously unmet need for expanded coverage in the loan market.
The service is expected to aid portfolio managers, traders, and risk managers by offering insights that could influence decisions on holding or divesting positions.
S&P Global Market Intelligence's Evaluated Loan Pricing solution is grounded in over two decades of historical data and is powered by a combination of contributor-based loan pricing engines, advanced parsing technology, and an evaluated methodology. The system also provides bid-offer pricing, analytics, and mapping for more than 400,000 industry identifiers.
The company, a division of S&P Global (NYSE: SPGI), is known for providing a wide array of credit ratings, benchmarks, analytics, and workflow solutions across various markets.
The announcement of the expanded loan pricing service is based on a press release statement from S&P Global Market Intelligence.
In other recent news, S&P Global's revenue growth for Q2 2024 could potentially exceed market expectations, according to BMO Capital. This anticipatory analysis is based on the significant year-over-year growth in the company's billed issuance, a 45% increase in May and a 75% rise in April. Moreover, S&P Global's merger with IHS Markit is expected to result in an improvement in subscription growth in the Market Intelligence and Indices segments.
In addition to these developments, S&P Global's second-quarter earnings per share (EPS) forecast was raised by 6% to $3.67, primarily due to an expected increase in revenue from the Ratings segment, according to Oppenheimer. The firm also raised its EPS estimates for the years 2024 and 2025 to $14.34 and $16.19 respectively.
RBC Capital maintained an Outperform rating on S&P Global due to the company's expansion efforts, including the recent enhancement of its CapIQ Pro platform and the acquisition of Visible Alpha.
Furthermore, S&P Global has declared a third-quarter cash dividend of $0.91 per share, continuing its long-standing tradition of consistent dividend payments.
Lastly, S&P Global Mobility's data reveals the average lifespan of vehicles in the U.S. has reached a new high of 12.6 years, a trend that could boost the aftermarket and vehicle service sectors.
InvestingPro Insights
As S&P Global Market Intelligence enhances its Evaluated Loan Pricing service, investors are considering the broader financial health and market position of its parent company, S&P Global (NYSE: SPGI). With a robust market capitalization of $142.65 billion and a high P/E ratio of 51.21, S&P Global reflects a significant valuation in the market, which could be indicative of investor confidence in its financial products and services. The company's revenue has shown healthy growth, with a 7.33% increase over the last twelve months as of Q1 2024, suggesting a solid demand for its offerings like the Evaluated Loan Pricing service.
According to InvestingPro Tips, S&P Global has consistently rewarded its shareholders, raising its dividend for 10 consecutive years and maintaining dividend payments for 54 consecutive years. This track record of dividend growth underlines the company's financial stability and commitment to returning value to its shareholders. Additionally, the stock is trading near its 52-week high, indicating a strong market performance and investor optimism.
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