Reuters Launches the First Aggregated Credit Information Service

Business Wire, Nov 1, 2000

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 1, 2000

Reuters (Nasdaq:RTRSY), the global information, news and technology group, today announced the launch of a comprehensive Internet-based credit information service (www.reuters.com/credit) that enables users to obtain specially aggregated and tailored information on issuers in the international credit markets. The launch of the Reuters Credit service marks one of the first e-business initiatives since Reuters published its Internet strategy earlier this year.

The Reuters Credit service offers subscribers specialized Reuters Credit news, credit benchmark data, lists of securities and loans with their terms, balance sheets and ratings information for each borrower. The comprehensive service covers the world's top 11,400 publicly rated issuers of debt, plus a further 15,000 unrated loan obligators. The Reuters Credit service is part of a comprehensive program of Internet-based information services for the Fixed Income markets.

"Reuters Credit is the first service to bring together the commonly used sources of credit information on the Internet," noted Krishna Biltoo, Director of Credit and Risk Business, Reuters Information. "Our own wealth of credit news and our partners' credit information and credit spreads are now delivered through one portal and search system. It marks Reuters first Internet-based information service for this market sector, and, more importantly, demonstrates our commitment to develop e-business initiatives for our customers."

Reuters Credit service will serve a number of diverse groups of financial professionals including fixed income sales, asset managers, issuers, analysts, researchers and the loans community. The subscription-based service will cost new customers $550.00 per month, per password, and customers who already use Reuters flagship information service, will pay $350.00 per month, per password.

"When we first started trying to assemble an index of fixed income credit markets, we would have killed for something like this," said Alan Cubban, who heads up JP Morgan's global credit and government indices, and was an early trialist of the product. "Reuters Credit certainly fills a gap in the market and is tremendously valuable."

Instrumental to the Reuters Credit service are the partnerships that Reuters has established with key market participants. These include: the RiskMetrics Group which provide a wide range of credit spreads, transition matrices and recovery rates; JP Morgan providing credit spreads and indices; and Standard & Poors, Fitch IBCA, and Moodys who provide ratings, research and statistics on issuers. In addition, the Loan Pricing Corporation (a Reuters Group Company) provides loan pricing, deal data and news. Credit Trade provides default swap prices, and Enron provides their proprietary Enron Cost of Credit (ECC) data. Market Place Data perform the main data collection and consolidation of data function. Multex.com has been responsible for the development and site build for the Reuters Credit information service.

About Reuters:

Reuters (www.about.reuters.com), the global information, news and technology group, plays a significant role in the functioning of the financial and media markets. Reuters strategy is to make the financial markets work on the Internet. Reuters is the world's largest international news and television agency with 1,957 journalists, photographers and camera operators in 185 bureaus serving 153 countries, gathering and editing news in 24 languages. Reuters premier position is based on a reputation for speed, accuracy and impartiality as well as for continuous technological innovation. Reuters supplies news and information to over 900 Internet websites.

About RiskMetrics Group:

RiskMetrics, the risk measurement experts, provides the financial community with innovative software, research, education and benchmark data. RiskMetrics is responsible for the creation and support of benchmark risk management products including RiskMetrics(TM), CreditMetrics(TM), DataMetrics(TM), and RiskGrades(TM). These measurement tools work seamlessly to promote greater understanding in the financial markets. The company promotes transparency by distributing its risk management information publicly via the Internet and offers financial institutions and individuals measurement tools that enable a complete Picture of Risk.

About Enron:

EnronCredit.com is a provider of online credit risk management solutions. EnronCredit.com offers companies a simple but effective means to access, instantly, the information they need to assess credit risk and to understand how much credit costs. The Enron Cost of Credit (ECC) allows a quick evaluation of counter parties, and allows organizations to incorporate the correct credit price into transactions.

About Loan Pricing Corporation:

Loan Pricing Corporation (LPC) was founded in 1985 to serve as an authoritative source for global loan market information and analysis. LPC gathers commercial loan data from many sources: syndicated loans filed with Securities and Exchange Commission, loan data from customers, and default and loss data from both public and private sources. From this data LPC develops state-of-the-art products and services for bankers, borrowers, and investors serving all markets.