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In addition to the natural hedges that exist due to the global footprint of our people, we have a hedging program in place that further mitigates the ultimate impact on our earnings.
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2022 Q3
10 Nov 22
Our CDS Indices, which include the CDX and iTraxx index families, increased 66%.
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2022 Q3
10 Nov 22
positive growth across four of our divisions, with Ratings continuing to work through a difficult issuance cycle and Engineering Solutions entering an off-cycle quarter
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2022 Q3
10 Nov 22
we now expect to achieve slightly more than the 35% to 40% of total cost synergies in 2022 that we were targeting previously
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2022 Q3
10 Nov 22
Market Intelligence revenue increased 4% with strong growth in Data and Analytics, offset by slower growth in Desktop and flat growth in Enterprise Solutions.
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2022 Q3
10 Nov 22
Asset-linked fees were down 5%, primarily driven by lower AUM in ETFs.
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2022 Q3
10 Nov 22
Given the declines across equity markets so far in the back half of this year, we continue to expect softness in asset-linked fees as we close out 2022.
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2022 Q3
10 Nov 22
Ratings continued to face difficult market conditions this quarter as issuance volumes remained muted with revenue decreasing 33% year-over-year. Transaction revenue decreased to 56% on the continued softness in issuance we highlighted earlier.
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2022 Q3
10 Nov 22
recurring revenue accounted for approximately 96% of Market Intelligence total revenue
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2022 Q3
10 Nov 22
Market Intelligence, there was growth in most categories. And on a pro forma basis, Desktop revenue grew 3%, Data & Advisory Solutions revenue grew 7%, Enterprise Solutions revenue was flat and Credit & Risk Solutions revenue grew 7%.
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2022 Q3
10 Nov 22
During the third quarter, global-rated issuance decreased 40% year-over-year; in the U.S., rated issuance in aggregate decreased 47%; European-rated issuance decreased 19%; and in Asia, rated issuance declined 47%. High yield was down by 80% year-over-year in both United States and Europe and was down nearly 100% in Asia.
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2022 Q3
10 Nov 22
Our net interest expense decreased 17% as we benefit from lower average rates due to refinancings following the merger.
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2022 Q3
10 Nov 22
the third quarter in general is the lowest quarter for us from an expense perspective. That is due to seasonality. The fourth quarter is higher.
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2022 Q3
10 Nov 22
about 60% of our overall expense base is people cost
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2022 Q3
10 Nov 22
we're generating more interest income on our cash balances
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2022 Q3
10 Nov 22
we refinanced a large part of the debt at the beginning of March
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2022 Q3
10 Nov 22
we see -- continue to see good cross-sell
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2022 Q3
10 Nov 22
in Market Intelligence, we had a nice sale of KYC, KY3P product to an existing customer that was more a customer from the legacy S&P Global side where we could sell a product from the legacy IHS Markit side.
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2022 Q3
10 Nov 22
not so much of a different trend we are seeing in Europe compared to other parts of the world
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2022 Q3
10 Nov 22
we're seeing the largest benefit from cost synergies and revenue synergies in the Market Intelligence division. That's because it's the largest division. It's also the largest combination of different businesses that we're bringing together.
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2022 Q3
10 Nov 22