Leveraged Commentary & Data
Encyclopedia
Leveraged Commentary & Data (LCD) is a unit of Standard & Poor's
, a division of The McGraw-Hill Companies, Inc
. LCD is a provider of news, research and commentary to the global leveraged finance community.
.
Standard & Poor's acquired PMD in May 2000. The unit was rebranded Leveraged Commentary & Data later that year.
The company also provides three market value-weighted indexes
to the loan market:
, advisory firms, distressed investors and consultants.
- Syndicated Loan
- Leveraged Buyout
- S&P Leveraged Loan Index
Standard & Poor's
Standard & Poor's is a United States-based financial services company. It is a division of The McGraw-Hill Companies that publishes financial research and analysis on stocks and bonds. It is well known for its stock-market indices, the US-based S&P 500, the Australian S&P/ASX 200, the Canadian...
, a division of The McGraw-Hill Companies, Inc
McGraw-Hill
The McGraw-Hill Companies, Inc., is a publicly traded corporation headquartered in Rockefeller Center in New York City. Its primary areas of business are financial, education, publishing, broadcasting, and business services...
. LCD is a provider of news, research and commentary to the global leveraged finance community.
History
LCD was founded in New York in 1996 as Portfolio Management Data LLC (PMD). The company was backed by Standard & Poor's along side a group of investors led by Trust Company of the WestTCW Group
The TCW Group is an investment management company that offers various equity, fixed income, and alternative strategies to and individual investors. The group operates as a subsidiary of SG Gestion....
.
Standard & Poor's acquired PMD in May 2000. The unit was rebranded Leveraged Commentary & Data later that year.
Services
LCD was originally conceived as a data provider to banks and other players in the U.S. leveraged loan market. In 2000 it added news reporting and in 2003 started covering the high yield bond market as well. In 2004, it expanded its coverage from the U.S. markets to Europe, and began to provide coverage of Asia in 2005. Coverage of the distressed market was added in 2008.The company also provides three market value-weighted indexes
S&P Leveraged Loan Index
S&P Leveraged Loan Indexes are market value weighted syndicated loan indexes based upon market weightings, spreads and interest payments. The S&P/LSTA Leveraged Loan Index covers the U.S. market back to 1997 and currently calculates on a daily basis. The S&P/LSTA Leveraged Loan 100 Index dates...
to the loan market:
- the S&P/LSTA Leveraged Loan Index, a broad based index designed to capture the performance of the invested U.S. institutional market;
- the S&P/LSTA U.S. Leveraged Loan 100 Index, designed to measure the performance of the liquid U.S. leveraged loan market;
- and the S&P European Leveraged Loan Index, a broad based index designed to capture the performance of the invested European institutional market.
Clients
LCD's clients include most firms in the leveraged finance community, including securities firms, banks, asset management firms, hedge funds, private equity playersPrivate equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
, advisory firms, distressed investors and consultants.
See also
- Standard & Poor'sStandard & Poor's
Standard & Poor's is a United States-based financial services company. It is a division of The McGraw-Hill Companies that publishes financial research and analysis on stocks and bonds. It is well known for its stock-market indices, the US-based S&P 500, the Australian S&P/ASX 200, the Canadian...
- Syndicated Loan
Syndicated loan
A syndicated loan is one that is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as arrangers....
- Leveraged Buyout
Leveraged buyout
A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...
- S&P Leveraged Loan Index
S&P Leveraged Loan Index
S&P Leveraged Loan Indexes are market value weighted syndicated loan indexes based upon market weightings, spreads and interest payments. The S&P/LSTA Leveraged Loan Index covers the U.S. market back to 1997 and currently calculates on a daily basis. The S&P/LSTA Leveraged Loan 100 Index dates...