S&P and LoanX launch Standard & Poor's Loan Evaluations Service

By Sara Rosenberg

New York, June 3 - Standard & Poor's and LoanX joined forces to launch Standard & Poor's Loan Evaluations Service, which will provide leveraged loan market participants with "independent price perspective", according to a press release. The service is anticipated to be available in the third quarter.

Currently, the dealer community, according to the release, only provides "mark pricing" on 50% to 75% of syndicated leveraged loans. The new Loans Evaluation Service will provide opinions on all outstanding loans. Evaluation of loans will incorporate data from various sources including the PMD database, LoanX's dealer marks and posted trades, new issue trends and activity, index performance, rating reports and direct feedback from market participants, the release said.

"Investors will gain powerful insight from a shared commitment by Standard & Poor's and LoanX to combine data, tools and capabilities," said Frank Ciccotto, managing director evaluation/information services, in the news release. "This initiative offers the marketplace a consistent source of accurate, objective and independent loan pricing information."

"We are pleased to be able to continue to work with the entire loan market community to contribute to the development of transparency and liquidity tools," said Michael Rushmore, chief executive officer of LoanX. "We are enthusiastic in our support of innovation that will increase the ability of dealers and asset managers to value credit risk portfolios."

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