CUSIP ID Requests Project Continued Strength for Q1 Corporate and International Debt Issuance

NEW YORK, Feb. 17, 2011 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for January 2011.  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 and international corporate debt issuance over the next 30-90 days.

In the US, corporate CUSIP demand surged in January with a total of 1,439 new ID requests made in the month.  This was an increase of nearly 55% from last year's figures and the best monthly showing since January 2008.  Likewise, certificate of deposit (CD) identifier requests grew in January with 717 requests made for CDs with maturities greater than 1 year and 362 for those with maturities under 1 year.

International debt CUSIP activity also grew in January with a total of 168 new requests, an increase of nearly 36% year-over-year.  Meanwhile, international equity CUSIP activity declined 13% over 2009 levels with 256 ID requests. Additionally, CUSIP requests for private placement notes totaled 158 in January, a decrease of 0.6% from 2009.

Municipal CUSIP requests saw their first decline in several months, with just 671 new requests made in January. While January typically represents a low point for monthly municipal identifier orders, the results marked one of the slower debuts in several years: January 2010 saw 885 municipal requests and January 2009 activity totaled 798.  With the inclusion of note and other municipal securities, municipal identifier volume in January dropped nearly -22% from 2009 levels.

"This month's CUSIP issuance trends are foreshadowing a continuation of many of the macroeconomic trends we're currently seeing play out in the markets," said Richard Peterson, Director, S&P Valuation and Risk Strategies.  "Corporations are continuing to take advantage of a favorable interest rate environment to issue new debt and municipalities may be starting to slow their new debt issuance; we will continue to watch municipal volumes very closely."

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 January 2011:

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 CUSIP Global Services

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