I

Indenture

The agreement entered between the corporation (issuer) and the investor (creditor). All terms of the agreement are specified, including but not limited to the total amount of the issue, maturity date, interest rate and payment dates.

Instrument

Stocks or bonds sold by an entity at a particular time. (Also referred to as "issue," "maturity," or "program.")

Instrument-Specific Credit Ratings

A Standard & Poor's issue credit rating is a current opinion of the creditworthiness of an obligor with respect to a specific financial obligation, specific class of financial obligations, or a specific financial program. The opinion may reflect the creditworthiness of guarantors, insurers or other form of credit enhancement on the obligation and may take into account statutory and regulatory preferences.

Instrument CreditWatch

Current CreditWatch value–at the instrument level.

Instrument CreditWatch Date

Date on which an instrument was placed on CreditWatch.

Instrument ID

Unique proprietary Standard & Poor's identifier for each instrument.

Instrument Long-Term Rating

Current long term rating at instrument level.

Instrument Long-Term Rating Date

Effective date of a long-term instrument rating.

Instrument Name

Describes the details for a particular debt instrument, such as original amount–currency, coupon amount, coupon type, and final maturity date.

Instrument Outlook

Current Outlook value–at the instrument level.

Instrument Outlook Date

Effective date of an instrument's current outlook assessment.
Format: YYYYMMDD HH:MM:SS

Instrument Prior CreditWatch

Most recent prior CreditWatch assessment for an instrument.

Instrument Prior Long-Term Rating

Instrument's most recent prior long-term rating.

Instrument Prior Outlook

Most recent prior Outlook assessment for an instrument.

Instrument Prior Rating

Most recent prior triple component rating at the instrument level.
Example: (AA-/POSITIVE/A-1+)
(Long-term/Outlook or CreditWatch/Short-term)

Instrument Prior Short-Term Rating

Instrument's most recent prior short-term rating.

Instrument Rating

Current triple component rating at the instrument level.
Example: AA+/STABLE/A-1+
(Long-term/Outlook or CreditWatch/Short-term)

Instrument Rating Date

Date on which any component of the instrument's triple component rating was last updated (i.e., long-term rating, Outlook, CreditWatch, or short-term rating).

Instrument Short-Term Rating

Current short-term rating at instrument level.

Instrument Short-Term Rating Date

Effective date of a short-term instrument rating.

Instrument Type

A unique code that identifies the characteristics of the instrument, such as IRBUNSECRD–Unsecured industrial revenue bond.

Instrument Long-Term CreditWatch

Current CreditWatch implication: POS, NEG, DEV, NM

Instrument Long-Term CreditWatch Date

Date on which an entity, instrument or maturity was placed on CreditWatch

Instrument Long-Term Outlook

Current outlook assessment of the potential for rating change: POSITIVE, NEGATIVE, STABLE, DEVELOPING, NM

Instrument Long-Term Outlook Date

Effective date of an entity's, instrument or maturities current outlook

Instrument Prior Long-Term CreditWatch

Most recent prior CreditWatch implication for a long-term rating, or for the long-term.

Instrument Prior Long-Term Outlook

Most recent prior Outlook assessment for a long-term rating.

Instrument Prior Short-Term CreditWatch

Most recent prior CreditWatch implication for a short-term rating or for the short term.

Instrument Prior Short-Term Outlook

Most recent prior Outlook assessment for a short-term rating.

Instrument Short-Term CreditWatch

Current short-term CreditWatch implication: POS, NEG, DEV, NM.

Instrument Short-Term CreditWatch Date

Date on which an entity, instrument or maturity was placed on CreditWatch

Instrument Short-Term Outlook

Current assessment of the potential for rating change: POSITIVE, NEGATIVE, STABLE, DEVELOPING, NM

Instrument Short-Term Outlook Date

Effective date of an entity's, instrument or maturities current outlook

Insurance NAIC

Unique identifier assigned (upon request) to insurance companies domiciled in North America by the National Association of Insurance Commissions

Investment Grade

Companies with Standard & Poor's ratings of 'AAA' to 'BBB-' are considered "investment grade," that is, their ability to honor financial obligations ranges from highest to adequate.

ISIN

A unique maturity-specific identifier (International Securities Identification Number).
Rule: This field will contain the maturity's ISIN identifier if it has been assigned. Otherwise, this field will be blank. (Rule 144A coverage. S&P includes up to four identifiers in Ratings Xpress for qualified securities. Please note, each covered 144A identifier will generate an additional record or row in the Ratings Xpress feed.)

  • 144A - Securities that can be traded among institutions at any time, eliminating Rule 144's 2-year lockup period, without having to register with the U.S. Securities and exchange Commission (SEC).
  • Accredited Investor – Purchasers of privately placed securities issued pursuant to Regulation D.
  • Registered Issues – Securities publicly registered with the SEC that were previously offered in a private placement usually with registration rights.
  • Regulations S – Securities that are available for offer and sale outside of the United States and not registered with the SEC.

Issuer Credit Ratings (ICR)

A Standard & Poor's issuer credit rating is an opinion of the obligor's overall capacity to meet its financial obligations. The opinion focuses on the obligor's capacity and willingness to meet its financial commitments as they come due. The opinion is not specific to any particular financial obligation, as it does not take into account the specific statutory or regulatory preferences nor do they take into account the creditworthiness of guarantors, insurers, or other forms of credit enhancement on the obligation.