S&P Global Spun Off Its Mobility Business on July 1. Here's What the Leaner Ratings Giant Looks Like Now.
The seemingly small change may turn out to be a slightly bigger deal than it appears on the surface.
Overview
It's official. As of the beginning of this month, S&P Global (NYSE: SPGI) is a smaller but more focused company, having shed the least impactful of its businesses. That's S&P Global Mobility, now called Mobility Global (NYSE: MBGL). It is the arm that offers market intelligence to the automobile industry; it also owns and operates consumer-facing CarFax.
So how does this change things for investors? Fortunately, this is a very clean break, as S&P Global Mobility was already operating -- and being reported -- independently.
Details
First and foremost, yes, S&P Global is the company you may know better as Standard & Poor's, which licenses the S&P 500 index along with several other market barometers. That's not its biggest business, though. Its big breadwinners are market intelligence and ratings. Its ratings arm grades the quality of bonds and other fixed-income instruments, while its market intelligence division provides research on individual stocks and marketwide insights. If you've ever bought a stock or a bond in a brokerage account, you've almost certainly been exposed to one of its products.
Source
Originally published at www.fool.com.