The following expressions return the S&P Credit Ratings along with the dates for all of the Credit Ratings changes for a company using the S&P Capital IQ Excel Plug-In:

This expression returns the most recent date of a Credit Ratings Action:

=CIQ($A$1, "IQ_SP_ISSUER_RATING",,,"RATING_DATE")

Where cell A1 references the Identifier.

This expression returns the date of the previous Credit Ratings Action:

=IF(B$1=0,"No Additional History",CIQ($A$1,"IQ_SP_ISSUER_RATING",B1-1,,"RATING_DATE"))

Where cell A1 references the Identifier and where cell B1 is the more recent date of a Credit Rating Action, prior expression.

Note: Drag and copy this formula across Row 1 for the desired number of dates.

This expression returns the Credit Rating:

=IF(B$1=0,"Initial Rating",CIQ($A$1,"IQ_SP_ISSUER_RATING",B$1))

Where cell A1 references the Identifier and where B1 is the date of the Credit Rating Action.

To return the most recent date of a Credit Rating Action using the Formula Builder:

1. Right-click cell B1.  ​Note: Any cells can be used to insert CIQ Identifiers and Formulas.
2. Select Insert Formula from the shortcut menu.
3. Type the desired company or cell reference in the Identifier field.
4. Select the Market Data tab.
5. Click the plus sign (+) to expand the S&P Credit Ratings folder in the pick list.
6. Select Issuer Credit Rating.
7. Select the desired As-Of Date.
8. Select the desired Rating Type from the Rating Type drop-down menu.
9. Select Rating Date from the Value drop-down under Rating Option.
10. Click the down arrow to expand Advanced Options.
11. Select the desired National Scale Rating (NSR) or Regional Scale Rating (RSR) from the NSR/RSR Designation drop-down menu.
12. Click Add Formula. Click OK.