280:
713:, which had first called S&P's attention to its $ 2 trillion error in calculating the ten-year deficit reduction under the Budget Control Act, commented, "The magnitude of this mistake â and the haste with which S&P changed its principal rationale for action when presented with this error â raise fundamental questions about the credibility and integrity of S&P's ratings action." The following day, S&P acknowledged in writing the US$ 2 trillion error in its calculations, saying the error "had no impact on the rating decision" and adding:
1826:
884:
investors in
Australia, which included Local Government Financial Services Pty Ltd and the councils, because by the AAA rating there was conveyed a representation that in S&Pâs opinion the capacity of the notes to meet all financial obligations was âextremely strongâ and a representation that S&P had reached this opinion based on reasonable grounds and as the result of an exercise of reasonable care when neither was true and S&P also knew not to be true at the time made."
942:
360:
47:
1336:
930:. In its formal statement of objections, the EC alleged "that S&P is abusing this monopoly position by enforcing the payment of licence fees for the use of US ISINs by (a) banks and other financial services providers in the EEA and (b) information service providers in the EEA." It claims that comparable agencies elsewhere in the world either do not charge fees at all, or do so on the basis of distribution cost, rather than usage.
970:
167:
956:
1340:
704:" Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon."
701:" More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.
783:
is produced by
Standard & Poor's Credit Market Services Group. It offers a comprehensive view of the global credit markets, providing credit rating news and analysis. Standard & Poor's offers numerous other editorials, investment commentaries and news updates for financial markets, companies,
914:
and data vendors to pay licensing fees for their use. "This behavior amounts to unfair pricing," the EC said in its statement of objections which lays the groundwork for an adverse finding against S&P. "The (numbers) are indispensable for a number of operations that financial institutions carry
722:
In 2013, the
Justice Department charged Standard & Poor's with fraud in a $ 5 billion lawsuit: U.S. v. McGraw-Hill Cos et al., U.S. District Court, Central District of California, No. 13-00779. Since it did not charge Fitch and Moody's and because the Department did not give access to evidence,
734:
On
November 11, 2011, S&P erroneously announced the cut of France's triple-A rating (AAA). French leaders said that the error was inexcusable and called for even more regulation of private credit rating agencies. On January 13, 2012, S&P truly cut France's AAA rating, lowering it to AA+.
642:
S&P developed criteria and methodology for assessing corporate governance. It started issuing
Corporate Governance Scores (CGS) in 2000. CGS assessed companies' corporate governance practices. They were assigned at the request of the company being assessed, were non-public (although companies
522:: An obligor rated 'BB' is less vulnerable in the near term than other lower-rated obligors. However, it faces major ongoing uncertainties and exposure to adverse business, financial, or economic conditions, which could lead to the obligor's inadequate capacity to meet its financial commitments.
883:
in these circumstances"; and "S&Pâs rating of AAA of the
Rembrandt 2006-2 and 2006-3 CPDO notes was misleading and deceptive and involved the publication of information or statements false in material particulars and otherwise involved negligent misrepresentations to the class of potential
528:: An obligor rated 'B' is more vulnerable than the obligors rated 'BB', but the obligor currently has the capacity to meet its financial commitments. Adverse business, financial, or economic conditions will likely impair the obligor's capacity or willingness to meet its financial commitments.
664:
In
November 2012, S&P published its criteria for evaluating insurers and non-financial enterprises' management and governance credit factors. These scores are not standalone, but rather a component used by S&P in assessing an enterprise's overall creditworthiness. S&P updated its
439:
S&P rates borrowers on a scale from AAA to D. Intermediate ratings are offered at each level between AA and CCC (such as BBB+, BBB, and BBBâ). For some borrowers issuances, the company may also offer guidance (termed a "credit watch") as to whether it is likely to be upgraded (positive),
669:
analysis in its rating of debt issued by non-financial companies. "Scoring of management and governance is made on a scale of weak, fair, satisfactory or strong, depending on the mix of positive and negative management scores and the existence and severity of governance deficiencies."
822:
burst in 2007, many loans went bad due to falling housing prices and the inability of bad creditors to refinance. Investors who had trusted the AAA rating to mean that CDO were low-risk had purchased large amounts that later experienced staggering drops in value or
552:: An obligor rated 'R' is under regulatory supervision owing to its financial condition. During the pendency of the regulatory supervision, the regulators may have the power to favor one class of obligations over others or pay some obligations and not others.
717:
In taking a longer term horizon of 10 years, the U.S. net general government debt level with the current assumptions would be $ 20.1 trillion (85% of 2021 GDP). With the original assumptions, the debt level was projected to be $ 22.1 trillion (93% of 2021
508:: An obligor rated 'BBB' has adequate capacity to meet its financial commitments. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitments.
698:" The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics.
488:: An obligor rated 'A' has strong capacity to meet its financial commitments but is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligors in higher-rated categories.
651:
S&P's
Governance, Accountability, Management Metrics and Analysis (GAMMA) scores were designed for equity investors in emerging markets and focused on non-financial-risk assessment, and in particular, assessment of
609:: has significant speculative characteristics. The obligor currently has the capacity to meet its financial obligation but faces major ongoing uncertainties that could impact its financial commitment on the obligation
343:(CRA), the company issues credit ratings for the debt of public and private companies, and public borrowers such as governments, governmental agencies, and cities. It is one of several CRAs that have been designated a
1730:
579:
The company rates specific issues on a scale from A-1 to D. Within the A-1 category, it can be designated with a plus sign (+). This indicates that the issuer's commitment to meet its obligation is very strong.
1697:
320:, with the view to providing financial information on non-railroad companies. Instead of an annually published book, Standard Statistics would use 5-by-7-inch cards, allowing for more frequent updates.
860:
S&P acknowledged making a US$ 2 trillion error in its justification for downgrading the credit rating of the United States in 2011, but stated that it "had no impact on the rating decision".
735:
This was the first time since 1975 that Europe's second-biggest economy, France, had been downgraded to AA+. The same day, S&P downgraded the rating of eight other
European countries:
615:: currently vulnerable to nonpayment and is dependent upon favorable business, financial and economic conditions for the obligor to meet its financial commitment on the obligation
834:
Companies pay S&P, Moody's and Fitch to rate their debt issues. As a result, some critics have contended that the credit ratings agencies are beholden to these issuers in a
1414:
684:
656:
risk. S&P discontinued providing stand-alone governance scores in 2011, "while continuing to incorporate governance analysis in global and local scale credit ratings".
2088:
1720:
1371:
452:: An obligor rated 'AAA' has extremely strong capacity to meet its financial commitments. 'AAA' is the highest issuer credit rating assigned by Standard & Poor's.
2078:
1606:
1311:
621:: is in payment default. Obligation not made on due date and grace period may not have expired. The rating is also used upon the filing of a bankruptcy petition.
1687:
458:: An obligor rated 'AA' has very strong capacity to meet its financial commitments. It differs from the highest-rated obligors only to a small degree. Includes:
534:: An obligor rated 'CCC' is currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments.
1250:
305:
1992:
344:
1163:
295:. This book compiled comprehensive information about the financial and operational state of U.S. railroad companies. In 1868, Henry Varnum Poor established
1280:
787:
S&P Dow Jones
Indices publishes several blogs that do not require a subscription to access. These include Indexology, VIX Views and Housing Views.
1575:
1542:
842:
1636:
2073:
597:: is susceptible to adverse economic conditions however the obligor's capacity to meet its financial commitment on the obligation is satisfactory
643:
were free to disclose them to the public and sometimes did) and were limited to public U.S. corporations. In 2005, S&P stopped issuing CGS.
634:
practices. Corporate governance serves as investor protection against potential governance-related losses of value, or failure to create value.
923:
584:
and currency of repayment of the obligor to meet the issue obligation are factored into the credit analysis and reflected in the issue rating.
2098:
1124:
1778:
1026:
1801:
1503:
1049:
1874:
1098:
693:, S&P lowered the US's sovereign long-term credit rating from AAA to AA+. The press release sent with the decision said, in part:
1079:
1659:
1307:
710:
1185:
903:(EC) formally charged S&P with abusing its position as the sole provider of international securities identification codes for
983:
348:
1960:
814:. Credit ratings of AAA (the highest rating available) were given to large portions of even the riskiest pools of loans in the
17:
2103:
603:: adverse economic conditions are likely to weaken the obligor's capacity to meet its financial commitment on the obligation
857:, which was seen as interfering in the democratic process. In a subsequent statement they said they were "misunderstood".
784:
industries, stocks, bonds, funds, economic outlook and investor education. All publications are available to subscribers.
1598:
1277:"United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative"
877:
779:, a weekly investment advisory newsletter for individuals and professional investors, published continuously since 1922.
1303:
1406:
988:
248:
1242:
31:
841:
In 2015, Standard and Poor's paid $ 1.5 billion to the U.S. Justice Department, various state governments, and the
723:
there has been speculation whether the lawsuit may have been in retaliation for S&P's decision to downgrade.
2093:
2083:
1982:
1363:
1155:
811:
1276:
915:
out â for instance, reporting to authorities or clearing and settlement â and cannot be substituted.â
827:. For example, institutional investors lost $ 125 million on $ 340.7 million worth of CDOs issued by
815:
564:: has defaulted on obligations and S&P believes that it will generally default on most or all obligations
279:
1243:"Standard & Poor's brings "enhanced transparency" to management and governance credit factors methodology"
1867:
468:
Aa1 (high quality, with very low credit risk, but susceptibility to long-term risks appears somewhat greater)
2042:
1565:
927:
1629:
1532:
1445:
630:
S&P has had a variety of approaches to reflecting its opinion of the relative strength of a company's
546:: highly vulnerable, perhaps in bankruptcy or in arrears but still continuing to pay out on obligations
323:
In 1941, Paul Talbot Babson purchased Poor's Publishing and merged it with Standard Statistics to become
1470:
2032:
2019:
1764:
873:
690:
666:
1392:
800:
796:
1841:
2037:
1922:
1860:
1132:
838:
and that their ratings are not as objective as they ought to be, due to this "pay to play" model.
1990:
1692:
1430:
1053:
1782:
1022:
2068:
1797:
1495:
726:
On April 15, 2013, the Department of Justice was ordered to grant S&P access to evidence.
1760:
1339:(Press release). McGraw-Hill Companies: Standard & Poor's. August 6, 2011. Archived from
911:
876:
found that: "A reasonably competent ratings agency could not have rated the Rembrandt 2006-3
854:
835:
1102:
947:
653:
631:
340:
228:
1688:"U.S. Debt Rating in Limbo as Treasury Finds Math Mistake by S&P in Downgrade Warning"
1428:
Gauthier-Villars, David; Forelle, Charles (January 14, 2012). "Europe Hit by Downgrades".
8:
1975:
1949:
1725:
1075:
900:
828:
1215:
1825:
998:
907:
880:
819:
300:
252:
67:
1193:
465:
1907:
1847:
1664:
288:
125:
665:
management and governance scoring methodology as part of a larger effort to include
975:
961:
1337:"Standard & Poor's Clarifies Assumption Used on Discretionary Spending Growth"
1944:
1537:
887:
In conclusion, Jagot found Standard & Poor's to be jointly liable along with
591:: obligor's capacity to meet its financial commitment on the obligation is strong
264:
260:
1968:
1570:
810:
Credit rating agencies such as S&P have been cited for contributing to the
240:
185:
140:
1757:
Bathurst Regional Council v Local Government Financial Services Pty Ltd (No 5)
2062:
2024:
1883:
1003:
904:
328:
268:
256:
236:
232:
190:
136:
1939:
824:
581:
1852:
1599:"Corrupted credit ratings: Standard & Poor's lawsuit and the evidence"
331:, extending McGraw-Hill into the field of financial information services.
1630:"S&P reaches $ 1.5 billion deal with U.S., states over crisis-era..."
869:
845:
to settle lawsuits asserting its inaccurate ratings defrauded investors.
1566:"CDO Boom Masks Huge Subprime Losses, Abetted by S&P, Moody's Fitch"
1052:. Juneau Empire â Alaska's Capital City Online Newspaper. Archived from
1912:
1831:
359:
57:
46:
1798:"European Commission Accuses S&P of Monopoly Abuse over Isin Fees"
1836:
1528:
287:
The company traces its history back to 1860, with the publication by
244:
1819:
1186:"S&P affirms and withdraws Banco Santander (Brasil) GAMMA score"
2014:
899:
In November 2009, ten months after launching an investigation, the
888:
760:
756:
748:
2004:
1216:"S&P report on criteria for management and governance scores"
736:
1427:
729:
201:
1917:
1897:
1279:(Press release). McGraw-Hill Companies: Standard & Poor's.
1023:"S&P | About S&P | Americas â Key Statistics"
969:
764:
363:
Countries by Standard & Poor's long-term sovereign rating.
1563:
685:
United States federal government credit rating downgrade, 2011
1776:
993:
919:
752:
744:
740:
283:"Poor's Directory of Railroad Officials", 1893 (frontispiece)
678:
2009:
1496:"Thought Leadership â Overview â S&P Dow Jones Indices"
1241:
Berkenblit, Howard E.; Trumble, Paul D. (January 2, 2013).
30:"S&P" redirects here. For the broadcasting entity, see
1393:
S&P downgrades France by âmistake' | euronews, economy
1364:"S&P fails to split up $ 5 billion U.S. fraud lawsuit"
303:, and published two annually updated hardback guidebooks,
1050:"Three Credit Rating Agencies Hold Too Much of the Power"
853:
In April 2009, the company called for "new faces" in the
540:: An obligor rated 'CC' is currently highly vulnerable.
805:
1993:
Nationally recognized statistical rating organizations
1721:"S&P Downgrades U.S. Credit Rating for First Time"
848:
659:
345:
nationally recognized statistical rating organization
1718:
937:
863:
293:
History of Railroads and Canals in the United States
2089:
Financial services companies based in New York City
1047:
306:
Poor's Manual of the Railroads of the United States
574:
235:that publishes financial research and analysis on
1564:Tomlinson, Richard; Evans, David (May 31, 2007).
1240:
891:and Local Government Financial Services Pty Ltd.
2079:Financial services companies established in 1941
2060:
1304:"Just the Facts: S&P's $ 2 Trillion Mistake"
558:: has selectively defaulted on some obligations
1685:
1660:"Cowen Attacks Call for 'New Faces' in Cabinet"
1275:Swann, Nikola G; et al. (August 5, 2011).
1274:
1597:Efing, Matthias; Hau, Harald (June 18, 2013).
924:International Securities Identification Number
843:California Public Employees' Retirement System
689:On August 5, 2011, following enactment of the
1976:
1868:
1076:"Corporate 55 Water Street New York New York"
730:Downgrade of France's long-term credit rating
1446:"Standard & Poor's Premium Publications"
1331:
1329:
1192:. Reuters. September 1, 2011. Archived from
1093:
1091:
1089:
1882:
1777:Securities Technology Monitor, ed. (2009).
1407:"France frets about prized AAA debt rating"
1117:
354:
251:credit-rating agencies, which also include
247:. S&P is considered the largest of the
1983:
1969:
1875:
1861:
1824:
1627:
1527:
1471:"Standard & Poor's Editorial Features"
926:(ISIN) issuer in the US, on behalf of the
673:
1657:
1533:"Standard & Poor's Downgrades Itself"
1404:
1326:
1156:"S&P Stops Issuing Governance Scores"
1086:
679:Downgrade of U.S. long-term credit rating
1795:
1779:"EC Charges S&P With Monopoly Abuse"
1752:
1750:
1748:
1596:
1523:
1521:
1395:. Euronews.net. Retrieved on 2013-12-23.
1308:United States Department of the Treasury
1270:
1268:
790:
711:United States Department of the Treasury
358:
278:
1719:Goldfarb, Zachary A. (August 5, 2011).
1545:from the original on September 18, 2011
1417:from the original on November 15, 2011.
1361:
1301:
1295:
1078:. Standard & Poor's. July 3, 2013.
984:Global Industry Classification Standard
349:U.S. Securities and Exchange Commission
14:
2074:American companies established in 1941
2061:
1628:Viswanatha, Aruna (February 3, 2015).
1405:Dilorenzo, Sarah (November 14, 2011).
831:, despite being rated AAA by S&P.
316:In 1906, Luther Lee Blake founded the
1964:
1856:
1745:
1518:
1475:www.netadvantage.standardandpoors.com
1450:www.netadvantage.standardandpoors.com
1265:
1125:"Corporations: Standard & Unpoor"
797:Credit rating agency § Criticism
327:In 1966, the company was acquired by
311:Poor's Directory of Railway Officials
2099:1941 establishments in New York City
1804:from the original on March 12, 2011.
1700:from the original on August 13, 2011
1362:Stempel, Jonathan (April 15, 2014).
1314:from the original on August 10, 2011
1253:from the original on January 6, 2017
1166:from the original on August 27, 2017
1153:
1099:"A History of Standard & Poor's"
1029:from the original on August 16, 2011
806:Role in the 2007â08 financial crisis
625:
274:
1733:from the original on August 6, 2011
1639:from the original on April 17, 2017
1557:
1374:from the original on April 29, 2014
1355:
1283:from the original on August 9, 2011
1154:Taub, Stephen (September 9, 2005).
1082:from the original on June 28, 2013.
1048:Blumenthal, Richard (May 5, 2009).
894:
849:Criticism of sovereign debt ratings
24:
2029:HR Ratings de MĂ©xico, S.A. de C.V.
1686:Paletta, Damian (August 5, 2011).
1578:from the original on July 20, 2011
1131:. October 13, 1961. Archived from
989:List of countries by credit rating
660:Management and Governance criteria
515:(also known as speculative-grade)
25:
2115:
1811:
1609:from the original on July 3, 2017
1506:from the original on May 27, 2017
864:Australian Federal Court decision
440:downgraded (negative) or stable.
334:
32:Broadcast Standards and Practices
1848:History of Standard & Poor's
1302:Bellows, John (August 6, 2011).
1249:. Sullivan & Worcester LLP.
968:
954:
940:
259:. Its head office is located on
166:
165:
45:
1789:
1770:
1712:
1679:
1651:
1621:
1590:
1488:
1463:
1438:
1421:
1398:
1386:
770:
646:
575:Short-term issue credit ratings
1234:
1208:
1178:
1147:
1068:
1041:
1015:
825:could not be sold at any price
816:collateralized debt obligation
13:
1:
2104:1966 mergers and acquisitions
1009:
637:
27:American credit rating agency
928:American Bankers Association
170:US$ 2.61 billion (2009)
117:(present corporation status)
96:; 164 years ago
7:
1658:GAA Video (April 1, 2009).
1411:The San Francisco Chronicle
933:
812:financial crisis of 2007â08
325:Standard & Poor's Corp.
108:; 83 years ago
10:
2120:
2033:Japan Credit Rating Agency
2020:Egan-Jones Ratings Company
874:Federal Court of Australia
794:
691:Budget Control Act of 2011
682:
667:enterprise risk management
318:Standard Statistics Bureau
29:
2043:Moody's Investors Service
2000:
1932:
1923:S&P Dow Jones Indices
1890:
1837:S&P Dow Jones Indices
1025:. Standard & Poor's.
801:United States public debt
329:The McGraw-Hill Companies
196:
184:
174:
161:
151:
131:
121:
90:
73:
63:
53:
44:
2038:Kroll Bond Rating Agency
1763: (5 November 2012),
905:United States of America
868:In November 2012, Judge
818:(CDO) market. When the
355:Long-term credit ratings
231:(CRA) and a division of
223:and informally known as
18:Standard and Poor's
1844:â Standard & Poor's
1842:Intro to Credit Ratings
1761:[2012] FCA 1200
1693:The Wall Street Journal
1431:The Wall Street Journal
674:Downgrades of countries
2094:Financial data vendors
2084:Credit rating agencies
2048:S&P Global Ratings
1832:S&P Global Ratings
1796:Finextra, ed. (2009).
910:by requiring European
775:The company publishes
720:
707:
436:
297:H.V. and H.W. Poor Co.
284:
217:S&P Global Ratings
40:S&P Global Ratings
836:conflict of interests
791:Criticism and scandal
715:
695:
362:
282:
221:Standard & Poor's
1135:on December 20, 2011
1105:on February 15, 2013
948:New York City portal
920:CUSIP Service Bureau
918:S&P has run the
654:corporate governance
632:corporate governance
513:Non-Investment Grade
474:: equivalent to Aa2
341:credit rating agency
229:credit rating agency
1950:Douglas L. Peterson
1884:S&P Global Inc.
1726:The Washington Post
1222:. November 13, 2012
1056:on November 1, 2011
901:European Commission
829:Credit Suisse Group
500:: equivalent to A2
480:: equivalent to Aa3
176:Number of employees
83:Standard Statistics
41:
1908:S&P Capital IQ
1531:(August 6, 2011).
820:real estate bubble
494:: equivalent to A1
437:
301:Henry William Poor
285:
68:Financial services
39:
2056:
2055:
1958:
1957:
1785:on July 16, 2011.
1665:Irish Independent
1196:on April 28, 2018
626:Governance scores
435:
434:
289:Henry Varnum Poor
275:Corporate history
227:) is an American
214:
213:
126:Henry Varnum Poor
80:Poor's Publishing
16:(Redirected from
2111:
1985:
1978:
1971:
1962:
1961:
1877:
1870:
1863:
1854:
1853:
1828:
1823:
1822:
1820:Official website
1806:
1805:
1793:
1787:
1786:
1781:. Archived from
1774:
1768:
1754:
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1740:
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1500:us.spindices.com
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1247:www.lexology.com
1238:
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1203:
1201:
1182:
1176:
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1173:
1171:
1151:
1145:
1144:
1142:
1140:
1121:
1115:
1114:
1112:
1110:
1101:. Archived from
1095:
1084:
1083:
1072:
1066:
1065:
1063:
1061:
1045:
1039:
1038:
1036:
1034:
1019:
978:
976:Economics portal
973:
972:
964:
962:Companies portal
959:
958:
957:
950:
945:
944:
943:
895:Antitrust review
855:Irish government
464:: equivalent to
444:Investment Grade
369:
368:
210:
207:
205:
203:
169:
168:
116:
114:
109:
104:
102:
97:
49:
42:
38:
21:
2119:
2118:
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2113:
2112:
2110:
2109:
2108:
2059:
2058:
2057:
2052:
1996:
1989:
1959:
1954:
1945:James H. McGraw
1928:
1925:(joint venture)
1886:
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1139:October 19,
922:, the only
870:Jayne Jagot
781:Credit Week
777:The Outlook
245:commodities
74:Predecessor
2063:Categories
1913:IHS Markit
1529:Klein, Joe
1010:References
908:securities
795:See also:
638:CGS scores
153:Key people
58:Subsidiary
1737:August 5,
1704:August 5,
1671:August 7,
1643:April 28,
1603:VoxEU.org
1582:August 6,
1571:Bloomberg
1549:August 6,
1378:April 29,
1347:August 6,
1318:August 7,
1287:August 5,
1060:August 7,
1033:August 7,
249:Big Three
2015:Demotech
1995:(NRSROs)
1802:Archived
1731:Archived
1698:Archived
1637:Archived
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1372:Archived
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1281:Archived
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1164:Archived
1080:Archived
1027:Archived
934:See also
889:ABN Amro
761:Slovakia
757:Slovenia
749:Portugal
206:/ratings
202:spglobal
141:New York
64:Industry
2005:AM Best
1903:Ratings
1613:May 28,
1510:May 29,
1480:May 28,
1455:May 28,
1257:May 28,
1226:May 28,
1220:Reuters
1200:May 28,
1170:May 28,
872:of the
737:Austria
466:Moody's
225:S&P
197:Website
180:10,000+
162:Revenue
122:Founder
111: (
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91:Founded
1933:People
1918:Platts
1898:CRISIL
799:, and
765:Cyprus
365:Legend
243:, and
237:stocks
186:Parent
1991:US's
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745:Italy
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399:BBB-
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339:As a
241:bonds
2010:DBRS
1739:2011
1706:2011
1673:2011
1645:2018
1615:2017
1584:2011
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1538:Time
1512:2017
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1457:2017
1380:2014
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1320:2011
1289:2011
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