CUSIP ID Requests Project Sustained Increases in Corporate and Municipal Debt Issuance into 2011

US Corporate Issuance Up 28% and Muni Issuance Up 11%; International Debt Issuance Up 66%

Dec 09, 2010, 09:00 ET from Standard & Poor's

NEW YORK, Dec. 9, 2010 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for November 2010.  The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity, suggests strong, continued growth in US corporate and municipal bond and international corporate debt issuance over the next 30-90 days.

According to the report, requests for new international debt security identifiers increased 65.5 percent year-over-year, with 139 new issuer requests made though November. Additionally, international equity issuer requests increased 26.5 percent year-over-year with 398 identifier requests in November, marking the busiest month for international equity CUSIP requests this year and the most active month since April 2009 when 428 requests were made. In the US corporate sector, security identifiers increased 28 percent year-over-year, with 1694 new issuer requests made through November.  Requests for new municipal bond identifiers were up 11 percent year-over-year.

"The tailwind of corporate debt issuance and new capital creation has continued throughout the second half of 2010 and all signs point to sustained growth as we turn the corner to 2011," said Richard Peterson, Director, S&P Valuation and Risk Strategies. "We are particularly intrigued by the increases in identifier requests for new municipal instruments; this is the second month in a row of double-digit increases in the muni market.  This pulse of activity will be critical to monitor in the coming months."

To view a video commentary of this month's CUSIP issuance trends with Richard Peterson, please click here.

Following is a breakdown of new CUSIP identifier requests by asset class year-to-date through November 2010:





Asset Class

2010 ytd

2009 ytd

YOY Change

Int’l Debt (1)

1289

779

65.5%

US Corporates

17703

13799

28.3%

Int’l Equity (2)

3459

2734

26.5%

Private Placement

1998

1792

11.5%

Municipals

14851

13023

11.1%

Short Term Note

1537

1540

-0.1%

Long Term Note

726

727

-1.4%

CDs > 1 yr Maturity

8292

12332

-32.8%

CDs < 1 yr Maturity

3445

6843

-49.7%





(1) "International" Debt refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. debt offerings

(2)  "International" Equity refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. equity offerings



The CUSIP Global Services trends report is issued to the marketplace on a monthly basis.   For more information, please visit www.cusip.com.  

About CUSIP Global Services

For 40 years CUSIP Global Services has provided a unique common language for identifying financial instruments across institutions, exchanges and nations, enabling financial services firms to benefit from improved operating efficiencies and substantially reduced administrative costs. CUSIP Global Services is operated by the CUSIP Service Bureau (CSB). CSB is managed on behalf of the American Bankers Association by Standard & Poor's. For more information, visit www.cusip.com.

About The American Bankers Association

The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $13 trillion banking industry and its 2 million employees.  Learn more at www.aba.com.

SOURCE Standard & Poor's



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