Historically S&P has only collected statements of use from current clients who have a rating license agreement to determine the contract price based off the volume of ratings used.
To get started, I first identified the list of S&P who do not have a RX license. Next, I broke out each client by industry and developed industry specific statement of use surveys. Then, I created a list of all registered users who were then sent the industry specific survey
The survey was designed to help us understand who and how S&P credit ratings are being used. This initiative is purely educational for our product development teams as we work to strengthen the way in which we service our clients space.
RESULTS: Ratings Research
In early 2018, over 7,000 contacts from Financial Institutions were sent an industry specific survey. On March 30, 2018 30% of the recipients submitted complete responses