HOW TO SERVE LEGAL PAPERS ON STANDARD & POOR’S

Standard & Poor's

Undisputed Legal | New York City Process Service

S&P Global Inc. (formerly McGraw Hill Financial, Inc., and previous to 2013 McGraw–Hill Companies) is a New York City-based company. Financial information and analytics are the company’s key lines of operation. It is the parent firm of [A.]  S&P Global Ratings, [B.] S&P Global Market Intelligence, [C.] S&P Global Platts, and [D.] CRISIL, as well as the main shareholder in the joint venture S&P Dow Jones Indices.

S&P Global Ratings (formerly Standard & Poor’s) is a credit rating agency (CRA) based in the United States and a subsidiary of S&P Global. It produces financial research and analysis on stocks, bonds, and commodities. S&P is the biggest of the credit-rating organizations known as the Big Three, which also includes Moody’s Investors Service and Fitch Ratings. 

[1.0] HISTORY

The firm dates all the way back to 1860, when Henry Varnum Poor published The History of Railroads and Canals in the United States, providing detailed data on the financial and operational health of railroad firms in the United States. Henry Varnum Poor and his son, Henry William Poor, then went ahead and founded H.V. and H.W. Poor Co.

It is interesting that the current existence of Standard and Poor’s also stems from Luther Lee Blake establishing the Standard Statistics Bureau in 1906 with the objective of providing financial data on non-railroad firms. Standard Statistics would employ 5-by-7-inch cards rather than an annual book, allowing for more regular updates. Since then, Standard and Poor’s have seen a major shift in their credit rating systems. 

Paul Talbot Babson acquired Poor’s Publishing in 1941 and combined it with Standard Statistics to become Standard & Poor’s Corporation. The McGraw-Hill Companies purchased the firm in 1966, increasing McGraw-reach Hill’s into the sector of financial information services.

[2.0] WHAT DOES S&P DO

 The firm operates as a credit rating agency (CRA), assigning credit ratings to public and private corporations, as well as other public borrowers such as governments and governmental agencies. It is one of many credit rating agencies authorized by the United States Securities and Exchange Commission as a nationally recognized statistical rating organization. 

Standard & Poor’s (S&P) has established itself as a global organization best known for creating financial market indexes that are extensively used as investment benchmarks, serving as a data source, and issuing credit ratings for businesses and debt obligations, especially considering the highly sought-after and cited S&P 500 Index.

The firm has been established for more than a century- although S&P Global as the company’s official corporate name has only been included in 2016- when it expanded to twenty-six nations. Standard & Poor’s (S&P) is a market leader in indexing and providing data on independent credit ratings.  S&P was acquired by The McGraw-Hill Companies in 1966, and the firm was renamed S&P Global in 2016. Standard & Poor’s is one of the major credit rating organizations, grading corporations, and governments, as well as the debt they issue, on a scale of AAA to D, reflecting their degree of investment risk. Perhaps Standard & Poor’s most well-known product is the renowned S&P 500 Index, so well-known that numerous assets, including futures contracts, mutual funds, and exchange-traded funds, are based on the S&P 500.

[3.0] UNDERSTANDING STANDARD & POOR’S (S&P)

Standard & Poor’s in its current configuration was formed in 1906 from the merger of two organizations: Poor’s Publishing, a publisher of railroad industry guidebooks established in 1868, and the Standard Statistics Bureau (later Company), a publisher of financial statistics on corporations. It published its first stock market indicator in 1923, which included over two hundred businesses. In 1941, the two businesses joined to become Standard & Poors.

After the McGraw-Hill Companies acquired S&P, Standard & Poor’s merged its index business with Dow Jones Indices (which McGraw-Hill controlled) in 2012, establishing Standard & Poors as the market leader in stock market indexes. McGraw Hill Financial relaunched as S&P Global in 2016. A significant portion of credit analysts works for the organization, which has given over provided crucial credit ratings on governments, enterprises, the financial sector, and securities. Thus, S&P has established itself as a leading credit risk research firm, with expertise in a wide variety of sectors, benchmarks, asset classes, and locations. It assigns credit ratings to public and private enterprise debt, as well as to government debt, ranging from AAA to D. Additionally, it gives ratings on short-term debt and prospective ratings ranging from six months to two years.

Moody’s and Fitch are S&P’s primary rivals for credit ratings, while Bloomberg Business Services is S&P’s primary competition for financial indexes.

[4.0] WHAT ARE STANDARD & POOR’S INDEXES

In March 1957, the S&P 500 Index was introduced. It emerged as the first index to be computer-generated and published daily and has evolved into a proxy for the United States stock market.

The S&P 500 Index is composed of five hundred of the biggest equities traded on the New York Stock Exchange and Nasdaq, and thus serves as a barometer of the sustainability of significant American corporations. The S&P 500 is the world’s most prominent stock index, serving as a measure of internal consistency for a wide range of mutual funds, exchange-traded funds, and other assets and securities.

Other prominent S&P Global indices encompass a variety of market sectors and market capitalizations. Each gives a snapshot of the market’s health in relation to its market segment.

[4.1] STANDARD & POOR’S UNDERLYING RATINGS (SPURS)

Independent of guarantor or insurer credit improvements, Standard & Poor’s Underlying Ratings (SPURs) give an assessment of a county’s credit quality. Municipality and perhaps other public sector bonds usually feature credit enhancement, that would be used to secure favorable terms by offering extra insurance or a third-party guarantee that the borrower will respect its obligations. Standard & Poor’s assigns a SPURs rating at the issuer/request obligor’s and monitors an issue with a published SPUR.

Independent of guarantor or insurer credit improvements, Standard & Poor’s Underlying Ratings (SPURs) give an assessment of a county’s credit quality. Municipality and perhaps other public sector bonds usually feature credit enhancement, that would be employed to secure favorable terms by offering extra insurance or a third-party guarantee that the borrower will respect its obligations. Standard & Poor’s assigns a SPURs rating at the issuer’s or obligor’s request and monitors an inherent problem with a published SPUR.

[4.2] SHORT-TERM ISSUE CREDIT RATINGS

The firm assigns a letter grade to particular concerns ranging from A-1 to D. It may be denoted with a plus symbol (‘+’) inside the A-1 category. This signifies that the issuer is very committed to meeting its obligations. Country risk and the obligor’s currency of repayment are included in the credit analysis and reflected in the issue rating.

S&P has used a number of techniques in expressing its assessment of a company’s corporate governance procedures’ relative strength. Corporate governance protects investors against possible governance-related value destruction or inability to produce value.

S&P issued its management and governance credit factors for insurers and non-financial firms in November 2012. These are not separate scores, but rather a component of S&P’s total creditworthiness assessment of an organization. S&P revised its management and governance scoring system as part of a broader attempt to include enterprise risk management analyses into its ratings of non-financial company debt.

[5.0 ] HOW TO SERVE PROCESS ON S&P

With an international reach, it is necessary for S&P Global Inc to reach out to international customers through a broad range of products and services available through both third-party and proprietary distribution channels, in compliance with New York City Process Service regulations.

S&P Global Inc was incorporated in December 1925 under the laws of the state of New York. Their principal executive offices are located in New York and documented with the US Securities and Exchange Commission as well as the Department of State. Furthermore, individuals may reach out to them for New York City Process Service at their allotted telephone numbers. 

The corporation thus filed its Department of State incorporation certification, being eligible for New-York-based jurisdiction and classifying it as a domestic business corporation incorporated under the laws of New York and New York City Process Service. The Department of State is supposed to mail the process to the entity in case they ever receive the process on their behalf. This would mandate that two copies of the New York City Process Service have to be personally served by the New York Secretary of State. However, these copies could also be served upon an individual who has been specifically authorized to do so at the office. This does not mean that service may be done in any other form apart from personal delivery, as service by mail is not permitted. The statutory fee for serving New York City Process Service is USD 40.

Investors and individuals may contact S&P Global Inc for any New York City Process Service inquiries through the address and telephone number of their principal executive offices. Alongside, S&P Global Inc has retained a website encompassing information about the entity where general information about the entity is available. 

[5.0] STANDARD & POOR’S FINANCIAL SERVICES LLC

Standard & Poor’s Financial Services LLC is regulated by the U.S. Security and Exchange Commission and incorporated in the state of Delaware. For financial reporting, their fiscal year ends on December 31st. Standard and Poor’s Financial Services was filed with the Department of State on December 16th of 2008. Although Standard and Poor’s Financial Services LLC currently has its place of business in New York, the jurisdiction the limited liability company comes under remains Delaware, which is why the entity is a foreign limited liability company. Unlike most foreign limited liability companies, Standard and Poor do not have a registered agent, with the Department of State mailing process forward to the General Counsel of S&P Global. Standard and Poor retain a phone number for easier contact. 

New York City Process Service can be done upon a domestic or authorized foreign corporation, limited liability company, limited partnership, or limited liability partnership, although this New York City Process Service usually requires that two copies of the process be personally served on the New York Secretary of State or any person authorized by them at the Office of the New York Department. The Department of State will mail the process to the entity at their offices if they accept New York City Process Service on behalf of the entity. 

If New York City Process Service is levied on the Secretary of State as an agent of a domestic corporation an authorized foreign corporation, this service is only acceptable by personally delivering to and leaving with the Secretary of State or their deputy,  the requisite documents. At the office of the department of state in the city of Albany, it is necessary to provide duplicate copies of such New York City Process Service together with the statutory fee, which fee shall be a taxable disbursement in order to complete service.  The Secretary of State shall promptly send one of such copies by certified mail, return receipt requested, to such corporation, at the post office address, on file in the Department of State, specified for the purpose of New York City Process Service

Standard and Poor Global or S&P Global Inc. is a provider of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. Consequently, a robust basis for accepting legal documentation is necessary under New York City Process Service. The capital markets include asset managers, investment banks, commercial banks, insurance companies, exchanges, and issuers; and the commodity markets include producers, traders, and intermediaries within energy, metals, petrochemicals, and agriculture

For more information on serving legal papers, contact New York City Process Service (800) 774-6922. Representatives are available Monday-Friday 8 am – 8 pm EST.  If you found this article helpful, please consider donating.  Thank you for following our blog, A space dedicated to bringing you news on breaking legal developments, interesting articles for law professionals, and educational material for all. We hope that you enjoy your time on our blog and revisit us!  We also invite you to check out our Frequently Asked Questions About Process Servers.

Sources

1. Its headquarters are situated at 55 Water Street in New York City’s Lower Manhattan neighborhood.

2. HV. And HW. Poor CO. issued two-yearly revised hardback guidebooks, Poor’s Manual of the Railroads of the United States and Poor’s Directory of Railway Officials.

3. Meanwhile, Poor’s Publishing published its first rating in 1916

4. S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices, and S&P Global Platts are all part of S&P Global

5. The S&P Small Cap 600, the S&P MidCap 400, the S&P Composite 1500, and the S&P 900 are all popular products from S&P Dow Jones Indices.

6. A-1: obligor’s capacity to meet its financial commitment on the obligation is strong

  • A-2: is susceptible to adverse economic conditions however the obligor’s capacity to meet its financial commitment on the obligation is satisfactory
  • A-3: adverse economic conditions are likely to weaken the obligor’s capacity to meet its financial commitment on the obligation
  • B: 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
  • C: 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
  • D: is in payment default. Obligation not made on the due date and grace period may not have expired. The rating is also used upon the filing of a bankruptcy petition.

7. Management and governance are graded on a scale of poor, fair, good, or strong, based on the mix of positive and negative management ratings, as well as the presence and severity of governance flaws

8. 55 Water Street, New York, New York 10041

9. 212-438-1000

 (domestic callers) or 

212-438-2192

(international callers).

10. www.spglobal.com

11. (212) 438-1000

12. One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231.

13.DOS Process(Address to which DOS will mail process if accepted on behalf of the entity)

S&P GLOBAL GENERAL COUNSEL
55 WATER ST
46TH FL
NEW YORK, NEW YORK, 10041-0003

14. Nancy Gardner is the Chief Legal Officer of S&P Global Ratings,

15. C/O MCGRAW HILL FINANCIAL, INC.
55 WATER STREET

NEW YORK NY 10041

This entry was posted in Process Service on by .

BLOG DISCLAIMER

The information contained herein has been prepared in compliance with Section 107 of the Copyright Act. Fair use is a legal doctrine that promotes freedom of expression by permitting the unlicensed use of copyright-protected works. The articles/Images contained herein serve as criticism, comment, news reporting, teaching, educational, and research-as examples of activities that qualify as fair use. Undisputed Legal Inc. is a Process Service Agency and “Not A Law Firm” therefore the articles/images contained herein are for educational purposes only, and not intended as legal advice.